What would you conclude about the price elasticity

Assignment Help Business Economics
Reference no: EM13154555

4,000,000 stems were sold that week. During the week of June 5-11, the rose market cleared at a price of $0.20 per stem and 3,800,000 roses were sold. From this information what would you conclude about the price elasticity of supply in the rose market?

Reference no: EM13154555

Questions Cloud

Find probability that among five thefts cases reported : Find the probability that among the next 5 thefts cases reported in this district. Exactly 2 resulted from the need for money to buy drugs.
Cash flow benefit of the loss : Her projected share of the loss for the first year is $36,000.Agnes' individual tax rate is 33%. Determine the cash flow benefit of the loss to Agnes if the business form is:
What are the characteristics of an oligopoly : What are the characteristics of an oligopoly? Using the concept of duopoly and the price leadership model, discuss demand and pricing strategies in an oligopolistic market structure.
How covariance-correlation help to create diversification : Diversification in an investment portfolio is a significant concept for creating the highest return for the least amount of risk. To create this diversification portfolio managers consider the covariance and correlation of investments. Explain how..
What would you conclude about the price elasticity : 4,000,000 stems were sold that week. During the week of June 5-11, the rose market cleared at a price of $0.20 per stem and 3,800,000 roses were sold. From this information what would you conclude about the price elasticity of supply in the rose ..
Calculate the total number of moles of cl- ions : .134 mol of KCl and .257 mol of CaCl2 were dissolved in water. calculate the total number of moles of Cl- ions in the solution
Explain the decomposition of dimethy ether is first order : A container is filled with C2H6O until its concentration reaches 1.375 mol. How many minutes will it take for 71.5 percent of the C2H6O break down?
Define equivalent full units : What is meant by the term equivalent full units? How is this concept used in computing average unit costs? Provide an example. (3 questions)
What mass of hcn and water would be produced : If 5.00 X 10^3kg each of ammonia, oxygen, and methane are reacted, what mass of HCN and water would be produced, assuming 100% yield?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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