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- Average visits per week equal 640 when the copayment is $40 and 360 when the copayment rises to $60. Calculate the percentage change in visits, percentage change in price, and price elasticity of demand.You have estimated that the price elasticity of demand for chai at your cafe is 0.9. If you lower the price of chai by 30% you should expect sales to rise by %. Type your numeric answer and submitunit elastic elastic inelastic
- If a firm finds that it can sell $32,000 worth of a product when its price is $8 per unit and $35,000 worth of it when its price is $10, then Multiple Choice the demand for the product is inelastic in the $10-$8 price range. the demand for the product must have increased. elasticity of demand is 1.67. the demand for the product is elastic in the $10-$8 price range.If the price elastiaty of demand for a product is equal to 0.4. then a decrease in price of 8 percent will imcrease quantity demanded by 13 Multiple Choice eBook 20 percent. 0.32 percent. 3.2 percent. 0.05 percent.Beta's Price Policy High Low A $20 B $30 High Alpha's $20 $10 Price Policy C $10 D $15 Low $30 $15 Help Save & Exit Submit Refer to the diagram, where the numerical data show profits in millions of dollars. Beta's profits are shown in the northeast corner and Alpha's profits in the southwest corner of each cell. If Alpha and Beta agree to a high-price policy through collusion, the temptation to cheat on that agreement is demonstrated by the fact that Multiple Choice Beta can increase its profit by lowering its price. Beta can increase its profit by increasing its price still further.
- The price elasticity of demand for holidays in Italy is likely to be high because: Group of answer choices people tend to book up a long time in advance. there are plenty of different holidays abroad to choose from. expenditure on holidays account for a relatively small part of people’s total income. holidays at home provide no real alternative. people need a holiday if they are to cope with the year ahead – and they prefer holidays abroad.Price Quantity Demanded 0 200 $1 150 $2 100 $3 50 0 $4 Using the midpoint method, the price elasticity of demand when the price rises from $1 to $2 is and it is considered to be a) 1.33; elastic b) 1.67; inelastic c) 0.60; inelastic d) 0.47; inelasticHow does DMCA relate to Napster? https://www.youtube.com/watch?v=VrLSWqaFTKE
