Mercedes-Benz S-Class is the number one luxury car in the world. You expect the demand for this brand of car would tend to be     Inelastic     Elastic     Unit elastic     Infinitely elastic     Infinitely inelastic

Q: The Nguyen’s Noodle House in a country town decides to due to the Covid 19 situation to decrease the…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: The demand for tickets to an oromia gada films given by D(p)=200000-10000p,where p is the price of…

A: The price elasticity of demand measures the responsiveness of percentage change in quantity demanded…

Q: The City of Vancouver [BC, Canada] is surrounded by other cities and the Pacific Ocean so that it…

A: The quantity supplied of a good is defined as the amount of the good the sellers of the good are…

Q: Determine the degree of elasticity if the price decreased from 10 to 15 and quantity demanded…

A: Elasticity of demand=(change in quantity/average quantity)/(change in price/average price)Change in…

Q: How to obtain the Elasticities Form Linear and Non Linear Demand Function?

A: The price elasticity of demand informs on the responsiveness of quantity demanded to any changes in…

Q: Bob of Bob's Burgers used to charge $2.20 for a certain hamburger and sold 4000 units. When he…

A: The demand curve shows the inverse relationship between price and quantity demanded. The price is…

Q: What is the relationship between AR and MR when the firm faces perfectly elastic demand for its…

A: # For each unit of output, the revenue generated by the firm is known as the average revenue and on…

Q: How would you describe the elasticity of mable's demand for milk

A: Price elasticity of demand is a measures the quantity of change in demand with respect to the change…

Q: Can the elasticity of demand be 0?  If yes, in what situation is this possible

A: # The term elasticity of demand related the quantity demanded and price and explains how quantity…

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: Healy Ltd is a paper merchant. The company sells standard A4 paper to a wide variety of stationers,…

A: Income elasticity of demand refers to the income sensitivity of the quantity demanded specific goods…

Q: If the shoe store finds a demand elasticity for its running shoes of 1.3, is this elastic, unit…

A: 1. Given  The shoe store finds a demand elasticity for its running shoes of 1.3.  The price…

Q: How can we increase the Total Revenue of products by using elasticity ? Explain shortly.

A: Total Revenue is the total amount income generated by sale of good or service. Total Revenue = Price…

Q: Please answer in paragraphs. Rate will be given! Give an example of an Elastic product, what makes…

A: Elasticity is an important concept used in business to determine the extend to which the quantity…

Q: Evaluate how a firm is able to estimate whether they are selling elastic or inelastic

A: Price elasticity of demand can be defined as the ratio of the change in percentage of quantity…

Q: XYZ Co. makes a processor that requires a metal that can be found in a single mine in Peru. Do you…

A: It is inelastic,The price of metal stretching will be inelastic because it is the only source where…

Q: When the price of enchiladas is $1.00, a restaurant sells 1200 enchiladas per day. The restaurant…

A: The goods demand will be affected by several factors like price, income levels, tastes and…

Q: 6. At a specific company, the demand equation for water bottles is given by p= 400 – 4q². -

A: The demand function shows the quantity demanded of a good at each price level. If we plot the demand…

Q: P, ($) D IN M 2000 4000 6000 Q. 8000

A: Price elasticity of demand determines the percentage by which quantity demanded changes when price…

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…

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A: The measure that depicts the percentage change in quantity being supplied with respect to change in…

Q: n a burns-road food street, there is a youngest 12-year-old entrepreneur. His most recent venture…

A: Initial: price 1 - Rs 60 quantity 1 - 100 units final: price 2 - Rs 40 quantity 2 - 300 units

Q: How can we increase the Total Revenue of products by using elasticity?

A: Elasticity measures the responsiveness of the quantity demanded of good to the change in price.

Q: How Does Elasticity Increase the Revenue in Small Businesses? Explain in detail .

A: The quantity demanded of a good is defined as the amount of the good the consumers of the good are…

Q: XYZ Co. makes a processor that requires a metal that can only be found in a single mine in Peru. Do…

A: Answer:

Q: Suppose the United Kingdom produces two types of goods: agricultural and capital. The following…

A: PPF is the production possibility frontier. PPF shows the production possibility of two goods in an…

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…