What is the price elasticity of supply

Assignment Help Microeconomics
Reference no: EM13317862

Suppose the supply function is Q=4P^2 and equilibrium quantity=36.What is the price elasticity of supply? What are the steps to find this?

Reference no: EM13317862

Questions Cloud

Determine the rate of entropy production within the turbine : Assuming the kinetic and potential energy effects to be negligible, determine D) the isentropic turbine efficiency E) the entropy at the exit of the turbine, in kJ/kg K F) the rate of entropy production within the turbine
Determine the tension in each chain : The pulley system in Figure below is used to lift a 52-kg crate. Note that a chain connects the upper pulley to the ceiling, determine the tension in each chain
One assumptions made in developing international feature : One assumptions made in developing international feature effect is that all investors inall countries require the same real return.what does this?
Determine the power developed by the turbine in kw : Assuming the kinetic and potential energy effects to be negligible, determine A) the mass flow rate in kg/s B) the temperature at the exit of the turbine, in C C) the power developed by the turbine in kW
What is the price elasticity of supply : Suppose the supply function is Q=4P^2 and equilibrium quantity=36.What is the price elasticity of supply? What are the steps to find this?
Find probability that in 30years at least 1man will be alive : An insurance sales representative sells policies to 5 men, all of identical age and in good health. According to the actuarial tables, the probability that a man of this particular age will be alive 30 years hence is 2/3.
If the price of one of the bundles of good rises : If the price of one of the bundles of good rises, what information is needed to calculate the impact on demand for each of the bundles of goods?
Find the variance and standard deviation for random variable : Let X be a random variable defined by the density function f(x) = 3X^2 0
Find the work that the force of gravity performs on the cart : A cart for hauling ore out of a gold mine has a mass of 445 kg, including its load. Find the work that the force of gravity performs on the cart

Reviews

Write a Review

Microeconomics Questions & Answers

  Describe how can we save social security

For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits

  Marketing research in target market for lower price point

What difference does it make, if any, if technology is moving very fast in the market so that this game proves to be one-time-only simultaneous play?

  Main factors of production

What are three main factors of production? Who are the main economic decision makers in a Markey system? Can firms and households resolve problems by cooperating with each other?

  Calculate the marginal product by dividing the change

In the long run, the Martha Mowers can assemble 300 mowers per week at a total cost of $18,000, 400 mowers at a total cost of $24,000, or 500 mowers at a cost of $35,000.Plot points of the long-run average cost curve for these three levels of outp..

  How could ms office prevent this type of arbitrage

If the elasticity of demand by students for students for MSOffice is 5, while the elasticity of demand by business professional is 2, and the marginal cost of producing another bundle of the office suite is $50, what are the profit mazimizing pric..

  How is the time spent on leisure likely to change

As the skill level (and therefore earnings rate) of, say, an architect, computer specialist, or chemist increases, what happens to his or her opportunity cost of doing other things? How is the time spent on leisure likely to change?

  Why is average fixed cost higher at first input than last

1 good reason why quantity demanded increases when its price falls is that the: a. lower price shifts the supply curve to the left b. lower price shifts the demand curve to the left c. lower price shifts the demand curve to the right d. lower price e..

  How does the marriage affect gdp

suppose a women marries her butler. after they are married, her husband continues to wait on her as before, and she conitues to support him as before ( but as husband rather than as an employee). how does the marriage affect GDP

  What determines whether there are any limitations on the

If Apple iPod only played iTunes, and iTunes only could be heard on the Apple iPod, could Apple price the technologically integrated bundle any way they wanted?

  Burden of the federal insurance contributions act

The federal Insurance Contributions Act  tax is a payroll tax that finances Social Security and MEdicare. By law, employees each contribute 7.65 percent of the workers wages toward the events.

  Compare the political scientists view of government

Compare the political scientist's view of government and economic policymaking and the Public Choice conception of politicians, bureaucrats and special interest groups in the political process. Which do you consider to be more realistic for unders..

  Calculations of price elasticity

Demand for a managerial economics text is given by Q=20,000-300P. The book is initially priced at $30.00. Write the demand equation for which the price elasticity of demand is zero for all prices.

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!

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