User Account

All Pages

Price elasticity of demand for good

Assignment Help Business Management
Reference no: EM131368089

Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will change if:

Instructions: Enter your answers as percentages. Include a minus (-) sign for all negative answers.

a. The price of good X decreases by 5 percent.

b. The price of good Y increases by 8 percent.

c. Advertising decreases by 4 percent.

d. Income increases by 4 percent.

Reference no: EM131368089

Questions Cloud

Social impact of technology : In your course, turn to Lesson 4. Skim through it to refresh your memory. Next, carefully study and review the section titled, "Ecological Challenges Facing Humanity." Skim through that and then focus on the topic of deforestation.
Noah and joan arc tax return : Noah and Joan Arc's Tax Return. For the current year, Joan's W-2 from the city fire department is located below. Noah made estimated federal income tax payments of $12,000 and estimated state income tax payments of $1,020 during the current year
Explain how will pricing relate to elasticity of product : ECO 561- How will pricing relate to elasticity of your product? How will changes in the quantity supplied as a result of your pricing decisions affect marginal cost and marginal revenue?
Draw an sm chart for the control circuit : Draw the block diagram for a divider that divides an 8-bit dividend by a 5-bit divisor to give a 3-bit quotient. The dividend register should be loaded when St = 1.
Price elasticity of demand for good : Suppose the own price elasticity of demand for good X is -3, its income elasticity is 1, its advertising elasticity is 2, and the cross-price elasticity of demand between it and good Y is -4. Determine how much the consumption of this good will ch..
Movement along and a shift of the demand curve : What is the difference between a movement along and a shift of the demand curve? What is the effect on the equilibrium price and quantity that results from an increase in demand, supply, and both? Provide examples for each instance. What is the ro..
How supply chain impacts distribution of assets and resource : The warehouse manager thought a recent presentation on operations management was extremely valuable to the company. He now wants to shift the conversation to focus on his warehouse department. You told him a little about supply chain design and ho..
Learned about catch-up theory : Reflect on what you have learned about catch-up theory and policies that have facilitated growth to identify two or three countries and/or special administrative regions that have experienced economic growth due to effective governance.
Demand and supply of particular goods : Go to the internet and find a news article from 2016-2017 that discusses changes in demand and supply of particular goods/services, summarize key points and post in the Discussions area.

Reviews

Write a Review

Business Management Questions & Answers

  Liquidity premium on kay bonds

Kay Corporation's 5-year bonds yield 5.90% and 5-year T-bonds yield 4.40%. The real risk-free rate is r* = 2.5%, the inflation premium for 5-year bonds is IP = 1.50%, the default risk premium for Kay's bonds is DRP = 1.30% versus zero for T-bonds,..

  Calculate the implied arc income elasticity of demand

A. Calculate the implied arc income elasticity of demand. B. How would you characterize demand for these 50" HDTVs?

  Does voluntariness of her behavior mean she had consented

Does the voluntariness of her behavior mean she had "consented" to Taylor's advances? Does it mean they were "welcome"? Do you agree that Vinson's acquiescence shows there was no sexual harassment? Defend your position.

  Emotional intelligence and leadership styles

From the first e-Activity, suggest one (1) key strategy that managers may use in order to combat workplace stress productively in today's work environment.

  Who owns the necklace

Grace wrapped the necklace in a box, put Kates name on it, and also put it in her (Graces) safe deposit box at the bank. Grace has the only key to the safe deposit box. After Grace dies, who owns the necklace? Discuss fully.

  Explain statistical analysis you will need to perform

Elaborate in details illustrate what type of data are you going to collect, (quantitative and qualitative). Explain statistical analysis you will need to perform related to the outcome of focus groups.

  Tourism commission and the hospitality industryshow the

tourism commission and the hospitality industryshow the role of a convention and visitors bureau cvb and the tourism

  What are the three elements of moral responsibility

What are the two stages within the first level (Preconventional level. of Kohlberg's Three Levels of Moral Development?

  Develop measures of success before implementing a crm system

Do you think your school would benefit from installing a customer relationship management (CRM) system? How might it benefit you as a student? How could it benefit your school?

  Outsourcing transfers some of the enterprise''s internal

For the reason that outsourcing transfers some of the enterprise's internal processes as well as resources to outside vendors, outsourcing

  Identify the type of leadership that exists in organization

From your own perspective, identify and describe the type of leadership that exists in this organization. Using what you are learning in this first unit, do you think the leader or leaders demonstrate effective leadership? Why or why not?

  Degree of alignment between your and organization values

Describe the differences and analyze the degree of alignment between your values and the organizations's values as reflected by the organizations's plans and actions?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd