Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Question 1: The price of the good X rises from $1.30 to $1.40. Calculate the price elasticity of demand by using the mid-point method.
Question 2: How do you explain the answer in question 1 in plain English to someone who is not an economics student?
Question 3: What are the factors that can make this demand less elastic?
Question 4: Calculate the price and quantity effects of this increase in price of X.
Question 5: Is it possible to raise more revenue by increasing the price of good X from $1.3/unit to $1.4/unit? Explain your answer by using the price and quantity effects.
Question 6: Assume that the price of good X is $1.3/unit. An increase in the price of good Y from $3 to $5 shifts the demand curve for the good X rightwards. With the price of good X constant at $1.3/unit, the quantity demanded for X increases from 7000units to 8000units. Calculate the cross price elasticity of demand between X and Y. What type of relationship do you find between goods X and Y?
Question 7: Assume that the price of good X is $1.3/unit. An increase in the price of good Z from $3 to $5 shifts the demand curve for good X leftwards. With the price of good X constant at $1.3/unit, the quantity demanded for good X declines from 7000units to 5000units. Calculate the cross price elasticity of demand between X and Z. What type of relationship do you find between goods X and Z?
Question 8: Assume that the price of good X is $1.3/unit. An increase in the income of the consumer from $2000 to $2500 shifts the demand curve for good X shifts rightwards. With the price of good X constant at $1.3/unit, the quantity demanded for good.
Output 0 Fixed cost $100 Varaible Cost 40 what is the Total cost and Total revenue also the Profit/Loss
During a given interval a nation''s overall productivity grows at a compounded rate of 2%. Its population growth rate and degree of labor-force participation do not change over thi
Explain the detail central problem of an economy?
Duopolist P=20-0.1Q where Q=QA+QB CA=QA CB=0.1QB2
Price Elasticity A measure of the change in demand for a product relative to unit changes in the price of the product. If the percentage change in quantity demanded is greater
How do I balance this chemical equation: MgSO4*5H2O
What two measures have been developed in recent years that subtract for the depreciation of both manufactured capital and natural capital? The environmentally adjusted Net Dome
There are six potential customers of computer games, each willing to buy only one game Consumer 1 is willing to pay $40, Consumer 2 is willing to pay $35, consumer 3 is willing to
explain the relationship between scarcity,choice and opportunity cost
THEORY OF CONSUMER BEHAVIOR: It is generally observed that market aggregate demand curve for a commodity is downward sloping, given other things. Our problem is to investigate
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd