12 Given the demand function $ D(p) = \frac{100}{p} $,Find the Elasticity of Demand at a price of $39[Input Box]At this price, we would say the demand is:- Unitary- Inelastic- ElasticBased on this, to increase revenue we should:- Lower Prices- Keep Prices Unchanged- Raise Prices

100 P Find the Elasticity of Demand at a price of $39 Given the demand function D(p) At this price, we would say the demand is: O Unitary O Inelastic O Elastic Based on this, to increase revenue we should: O Lower Prices Keep Prices Unchanged Raise Prices

100 P Find the Elasticity of Demand at a price of $39 Given the demand function D(p) At this price, we would say the demand is: O Unitary O Inelastic O Elastic Based on this, to increase revenue we should: O Lower Prices Keep Prices Unchanged Raise Prices

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Given the demand function $ D(p) = \frac{100}{p} $,

Find the Elasticity of Demand at a price of $39

[Input Box]

At this price, we would say the demand is:
- Unitary
- Inelastic
- Elastic

Based on this, to increase revenue we should:
- Lower Prices
- Keep Prices Unchanged
- Raise Prices

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There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed in the attached table. If the tenants have the right to be free of loud music enforced through a property rule, how many bands will play in Rock‐n‐Roll Bar on a Saturday night? A. Zero B. One C. Two D. Three E. It depends on transaction costs
$ per unit 100.00- 90.00- 80.00 70.00- -00 09 50.00- 40.00- 30.00- 20.00- 10.00- 0 10 20 30 MR 40 50 Quantity OK 09 70 MC=ATC D 09 90 100
B9
What are the Revenue projects?
There is a bar on Off‐Main Street called the Rock‐n‐Roll Bar. All the people that go to that bar like to listen to rock‐n‐roll music, and they love live bands. If the bar owner brings bands in to play music on a Saturday night, she will make a lot of money. However there are tenants in this building who get annoyed by the loud music. The benefits/costs to the owner/tenants of having zero, one, two or three bands on a Saturday night are listed below. Assume the bar owner has the right to hire as many bands as she likes. Iftransaction costs were $90, split between the bar owner and the tenants, how manybands would play? What would social welfare be? A. Three bands would play and social welfare would be ‐100.B. Two bands would play and social welfare would be 75.C. Two bands would play and social welfare would be ‐15.D. No bands would play and social welfare would be 0.E. Three bands would play and social welfare would be ‐190
Output TFC 0 $500 2 500 4 CO 00 6 8 10 500 500 500 500 TVC $0 200 340 590 1000 1650 TC $500 700 840 1090 1500 2150
e. 0 10 20 11 12 13 14 15 16 17 18 19 20 $160,000 ▼ $160,000 V
PLS HELP ASAP ON BOTH