You sell two different goods: printers and tonercartridges. The price elasticity of demand forthe printers is -3.4, and you earn a revenue ofRM15,000 per month from the good. You earn arevenue of RM5,000 per month from the tonercartridges. The cross price elasticity of demandfor both of the goods is -2.5. If you decide todecrease the price of the printers by 5%,calculate your new total revenues for both of thegoods.[Anda menjual dua barang berbeza: pencetak dan kartrijtoner. Keanjalan harga permintaan untuk pencetakadalah -3.4, dan anda memperoleh jumlah hasil sebanyakRM15,000 sebulanmemperoleh jumlah hasil RM5,000 sebulan untuk kartrijtoner. Keanjalan permintaan silang bagi kedua-duabarang adalah -2.5. Sekiranya anda membuat keputusanuntuk menurunkan harga pencetak sebanyak 5%, hitungjumlah hasil baharu anda untuk kedua-dua barangtersebut.](c)untuk barang tersebut. Anda

Price elasticity of demand quantifies how responsive buyers are to shifts in a product's price. A…

(c) You sell two different goods: printers and toner cartridges. The price elasticity of demand for the printers is -3.4, and you earn a revenue of RM15,000 per month from the good. You earn a revenue of RM5,000 per month from the toner cartridges. The cross price elasticity of demand for both of the goods is -2.5. If you decide to decrease the price of the printers by 5%, calculate your new total revenues for both of the goods.

(c) You sell two different goods: printers and toner cartridges. The price elasticity of demand for the printers is -3.4, and you earn a revenue of RM15,000 per month from the good. You earn a revenue of RM5,000 per month from the toner cartridges. The cross price elasticity of demand for both of the goods is -2.5. If you decide to decrease the price of the printers by 5%, calculate your new total revenues for both of the goods.

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 attached
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2. Suppose you have an elasticity of - 2 and the CMg of $ 15.45 per unit. Determine the pricing. CMg (marginal cost)
Solve all questions compulsory.....
You sell two different goods: printers and toner cartridges. The price elasticity of demand for the printers is -3.4, and you earn a revenue of RM15,000 per month from the good. You earn a revenue of RM5,000 per month from the toner cartridges. The cross price elasticity of demand for both of the goods is 25. If you decide to decrease the price of the printers by 5%, calculate your new total revenues for both of the goods.
1. When the price of butter increases from $1 to $2, the quantity demand of margarine increases from 6 to 8. What is the cross-price elasticity of demand? A) (6-8)/8 (1-2)/2 (8-6)/6 (2-1)/₁ (1-2)/2 (8-6)/ B) D) (2-1)/₁ (6-8)/8
5. Johnny Ringlet at SkateNation staged a President's Day promotion at his Roller Skating Rink last week. By reducing the entry price and skate rental from $5.50 to $3.50, the number of Skaters per week night increased from 40 to 60. Calculate the Arc Price Elasticity of demand at SkateNation. a) EQp = -0.90 b) Eqp = -1.11 c) EQp = 0.90 d) Eqp = 1.11
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