Q: Use the endpoint method to compute the price elasticity on D1. P $10 в $5 A D, D2 80 90 100
A: Endpoint method of price elasticity measures the responsiveness in demand by a change in price by…
Q: lists of products and services eith more demand of elasticity
A: A commodity's PED(price elasticity of demand) is a proportion of how delicate the amount demanded of…
Q: Compute the price elasticity of demand if price of apples increases from $10 to $12 and quantity…
A: P1=$10 P2=$12 Q1=600 Q2=400
Q: Identify each factor influencing elasticity and give a specificexample of how it affects the degree…
A: Answer: There are mainly four factors that affect the elasticity of demand which are as follows:…
Q: If Andrew would like to buy slippers, he has to check the prices and the number of quantities that…
A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…
Q: Rogers purchased 60 tins of paracetamol at shs. 12,500 each from Abacus Pharma. Two months later the…
A: In following graph, initial position is at point A where price is P0 (= 12,500) and quantity…
Q: Use the endpoint method to compute the price elasticity on D1. $10 в $5 A D D2 80 90 100 From point…
A: Elasticity of demand depicts how much consumer responds with the change in price level.
Q: discuss the differences in elastic, inelastic, and unit elastic goods. Then name a specific product…
A: Price elasticity of demand measures the percentage change in quantity demanded due to percentage…
Q: a. Calculate and interpret the income elasticity for Product B, if a customer’s income changes from…
A: a. Product B M1= 15000, M2= 25000 Q1= 12, Q2= 18 Income elasticity = (Q2-Q1)(M1+M2)/(M2-M1)(Q1+Q2) =…
Q: what is elastic. Trying to figure out if coffee is elastic or inelastic
A: Elastic demand: Elastic demand is the proportionate change in demand for the goods and services that…
Q: Explain how a store can sell more elastic goods
A: Elastic demand is when the change in quantity demand will be greater than the change in price.
Q: bra graph on the cross-price elasticity of demand between the Nike and New Balance. (no elasticity…
A:
Q: write at least 15 differences of Elasticity and slope.
A: {"Elasticity of demand"} ED of a good is the response in the demand(DD) of the commodity as the…
Q: 5. Sam’s income band has been provided below for the past 5 years and he wants to understand about…
A: The percentage change in quantity being demanded with respect to the percentage change in income is…
Q: EBRA
A: The Act was conceived after other measures didn't fully remedy how the Depression strained the U.S.…
Q: Quèstion 9 Income elasticity will be negative for inferior goods O True O False
A: Elasticity refers to the change in quantity demanded due to variation in the price. Income…
Q: Find the price elasticity from 2 to 1 such as: %4QD %AP
A: The elasticity of demand measures the responsiveness of quantity demanded changes as a result of…
Q: is folding bike priced at $800 - $1000 considered elastic or inelastic? For comparison, other bikes…
A: Folding bikes are considered elastic.
Q: i owned both of the two jerry garcia autographed lilthographs in existence. I sold one on eBay for a…
A: Meaning of Price Elasticity of Demand: The price elasticity of demand refers to the situation…
Q: Give an example of an Elastic product, what makes it elastic? What can make it become inelastic?
A: Demand elasticity means percentage change in quantity demanded due to percentage change in price.…
Q: Compute the following word problems and identify what type of elasticity is each. Show your PED of…
A: Point elasticity formula for PED = [(Q1 - Q0) / Q0] / [(P1 - P0) / P0] Midpoint formula for PED =…
Q: O elastic
A: The elasticity of demand indicates the proportional change in quantity demanded caused due to a…
Q: quantity of hotdogs. His demand
A: To find: Demand for hot dog.
Q: Give an example of an Inelastic product, what makes it inelastic? What can make it become elastic?
A: Elasticity is a term used in business to describe the extent to which a change in a product's…
Q: the endpoint method to compute the price elasticity on D1. 10 55 D, D2 80 90 100 m point A to point…
A: Use the endpoint method to compute the price elasticity on D1.
Q: George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50, he…
A: Given: George sells T-shirts per month = 5,000 The selling cost for T-shirts is = $8.50 The price…
Q: A celebrity starts an ad campaign talking about the dangers of vaping. What is likely to happen?…
A: The market demand curve shows the negative relationship between price of the good and its quantity…
Q: Your Best Brand Bike Shorts - BBB Shorts have been flying off the shelf. Your chief economist tells…
A: Before campaign: Price elasticity of demand is -5.76 i.e. E1 =-5.76 The price was $240 i.e., P1 =…
Q: In box A2, you would interpret the coefficient calculated in the previous question. Therefore, you…
A: The elasticity of demand is a measure of sensitiveness of change in quantity because of change in…
Q: You have estimated that the price elasticity of demand for chai at your cafe is 0.9. If you lower…
A: Price elasticity of demand refers to the level with which the demand for a good or service changes…
Q: What is the difference between Elastic and Inelastic?
A: Difference between elastic and inelastic:Elastic demand: The elastic demand refers to that the small…
Q: Discuss the importance of considering elasticity in pricing decisions and the danger of relying…
A: Price elasticity shows the change in quantity demanded due to the change in the price of goods and…
Q: After a destructive hurricane in Southeast Texas, gasoline prices around the country increased…
A: LEither intentionally or subliminally, the issue of elasticity surfaces for buyers and producers in…
Q: If the cross-price elasticity of demand between two the drugs Lipitor and Zocor is + 0.45, then…
A: Cross elasticity of demand refers to the change in quantity demanded of one commodity due to a…
Q: How might you determine whether Nike andReebok are in competition with each other?
A: The cross elasticity of demand is an economic concept that measures how sensitive the amount wanted…
Q: You have a charger of your phone at home and you are relativley poor. When your income increases,…
A: The elasticity of demand is the degree of responsiveness from the part of the consumers towards the…
Q: E2 What sign will the cross elasticity for a complement have? a. Positive b. Negative C. Zero d.…
A: 1. Two goods are said to be complementary goods when one of the goods shares a beneficial…
Q: Exercise 2. The demand curve for a product is given Qd = 1500 − 5Px − 0.2Pz by where Pz = $300.…
A: Price elasticity of demand depicts how much consumer respond with the change in price.
Q: $.80-$.70 as a result the quantity demanded of cakes decreased from 120 to 100 what would be he…
A: Elasticity is an economic concept used to measure the change in the aggregate quantity demanded of a…
Q: If you are selling sports car how can the information on the income elasticity help you sell your…
A: Elasticity in economics s a useful measure that helps to understand the changing behavior of market…
Q: gross demands?
A: Gross demand is the one that the user ends up consuming it. Endowment is the stock possession before…
Q: Identify the graph according to its elasticity. Relatively Elastic Relatively Inelastic Perfectly…
A: The elasticity of demand is the reaction of demand due to change in price of goods and services,…
Q: If price $5, the point elasticity is: %3D
A: Formula for point elasticity is ed = (∆Q/∆P) * P/Q
Q: Can you explain the difference between an elastic and inelastic product?
A: To differ between the two product types in question, the understanding of the concept of elasticity…
Q: find a positively sloped curve with a constant point elasticity everywhere on the curve
A: A positively sloped curve is the which has a positive relationship between the quantity and the…
Q: Does better pricing of the product help to increase purchase intention of product. plz explain in…
A: In a particular democratic government generally, it has been seen that there is both public and…
Q: What is the area of the blue triangle shown in the figure? The area of the triangle= $ (Enter your…
A: According to the law of demand, there is an inverse relationship between price and quantity demanded…
Q: Draw two demand curves of tickets for two Super Bowls – XLVIII closed to NYC, and XLVII in New…
A: DISCLAIMER “Since you have asked multiple questions, and it is multipart questions so as per…
Q: explain the following Elasticity, inelastic, perfectly elastic inelastic, and unit elastic
A: Elasticity tells us the percentage change in quantity demanded due to the percentage change in…
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- Greentech- a high technological pharmaceutical company, has developed a clot-dissolving drug called TPA that will halt a heart attack in progress. TPA saves life, minimizes hospital stays, and reduces damage of the heart itself. It is priced at $ 2,200 per dose. What pricing approach does Greentech appear to be using? Is demand for this drug is likely to be elastic with price? Note: Please answer the question with points and exampleUrgent needed within 30minThe demand function for SkanDisc 2GB thumb drives is given by p- 4(x + 3) e"/a where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Compute the price, p, when x 6. Do not round your answer. Price, p- 36e dollars Use implicit differentiation to compute the rate of change of demand with respect to price, p, when x- 6. Do not round your answer. Rate of change of demand, x' x thousands of units per dollar Compute the elasticity of demand when x - 6. Do not round your answer. Elasticity of Demand-Explain the methods used toallocate the integratedmarketing communications(IMC) budget.
- Help me please2. Acme Pharmaceutical Company discovers a vaccine that prevents the common cold and has a patent that grants it a monopoly on this drug. Acme has plants in both the North America and Europe and can manufacture the drug on either continent at a marginal cost of $10. Assume there are no fixed costs. In Europe, the demand for the drug is QE = 70 - PE, where QE is the quantity demanded when the price in Europe is PE. In North America the demand for the drug is QN = 110 - PN, where QN is the quantity demanded when the price in North America is PN (a) Determine the aggregate demand function for the combined mar- ket. Determine the inverse demand function for the combined market and the inverse demand functions for each of the two mar- kets separately. (b) To begin, assume that it is illegal for the firm to price discriminate, so that it can charge only a single price P on both continents. What price will it charge, and what profits will it earn?A manufacturer of icrowaves has discovered that male shoppers have little value for microwaves and attnbute almost no exxtra value to an auto- defrost feature. Female shoppers generally value microwaves more than men do and attribute greater value to the auto-defrost feature. There is little additional cost to incorporating an auto-defrost feature. Since men and women cannot be charged different prices for the same product, the manufacturer is considering introducing two different models. The manufacturer has determined that men value a simple microwave at $68 and one with auto-defrost at $82, while women value a simple microwave at $82 and one with auto-defrost at $150. Suppose the manufacturer is considering three pricing strategies: 1. Market a single microwave, with auto-defrost, at $82, to both men and women. 2. Market a single microwave, with auto-defrost, at $150, to only women. 3. Market a simple microwave to men, at $68. Market a microwave, with auto-defrost, to women at $135.…
- Under what conditions is cost-plus pricing mostappropriate?b) The price elasticity of demand for urban transit fares has been estimated to liebetween -0.1 and -0.6. Based on these results, what is the economic argument for raisingtransit fares? What political arguments might local governments and transit authoritiesencounter in opposition to these economic arguments?In her spare time, your colleague is selling hand-carved wooden boxes on Etsy. The boxes are currently priced at $30/box. Your colleague is not happy with their current revenue stream and asks for your advice. You estimate that demand for your colleague's hand-carved wooden boxes is: Q = 800-20P. If your colleague is looking to maximize revenue, how should they price their wooden boxes? Keep prices at $30/box Lower prices to $20/box Raise price to $40/box Lower price to $25/box Raise prices to $35/box
- Q2. Your brother is considering two cell phone providers i.e. UFONE and MOBILINK. UFONE charges Rs.520 (super card) per month for the service regardless of the number of phone calls made. MOBILINK does not have a fixed service fee but instead charges Rs. 1 per minute for calls. Your brother's monthly demand for minutes of calling is given by the equation Q = 150 - 50P, where P is the price of a minute a. With each service provider, what is the cost to your brother of an extra minute on the phone? b. In light of your answer to (a) part, how many minutes would your brother talk on the phone with each service provider? c. How much would he end up paying each provider every month?Joe Smiley buys his mobile phone services from Sprint, the sole provider in his state of Wyoming. Sprint offers the following pricing plans: a fee of 10 dollars per month and 50 minutes of free calls per monthor a fee of 20 dollars per month and 100 minutes of free calls. Under both plans the price of additional calls is 25 cents per minute. Joe Smiley's demand curve for mobile phone services is P=100 - 0.5Q where P is measured in cents/minute and Q is measured in minutes per month. Answer the following questions: a) suppose Joe Smiley subscribes to the first plan (10 dollar fee and 50 free minutes)(i) how much calling time would he consume? (ii) what would be his total benefit? What would be his surplus? b) suppose Joe Smiley subscribes to the second plan (20 dollar fee and 100 free…you own a small cineplex theater with 200 seats. the demand for seats is Q=3000-20P. you are charging rm6.50 per ticket and selling tickets to 160 people. your costs are fixed at rm125 and do not depend on the number of people attending. should you cut your price to fill the theatee? explain. what other pricing policies might you use to increase your profits?
