Calculate the elasticity when P=10, Qd=200-10P:options:-113-3 Suppose demand is linear:Qd=a-bPWe know that the price elasticity of demand is -0.5, quantity of demand Qd=100,price P=10, then:a=200,b=10a=200, b=-10a=150, b=5a=50, b=-5

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ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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Currently, 4900 people ride a certain commuter train each day and pay $9 for a ticket. The number of people q willing to ride the train at price p is q = 700 (10- p). The railroad would like to increase its revenue. (a) Is demand elastic or inelastic at p = 9? (b) Should the price of a ticket be raised or lowered? (a) Choose the elasticity of the demand below. inelastic elastic neither (b) What should the railroad do to increase revenue? The price should be lowered. The price should be raised.Currently, 4900 people ride a certain commuter train each day and pay $9 for a ticket. The number of people willing to ride the train at price p is q = 700 (10- p). The railroad would like to increase its revenue. (a) Is demand elastic or inelastic at p = 9 ? (b) Should the price of a ticket be raised or lowered? (a) Choose the elasticity of the demand below. inelastic elastic neither (b) What should the railroad do to increase revenue? The price should be lowered. The price should be raised.…
Numbers 5 adn 6 need to be answered. The function (8.6) needed in 5b has been included in a separate picture. Please show all work. Thank you.
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You have demand for 2 products: QA = 200 - 4'PA And Qg = 180 – 2°P8 %3D You anticipate seilling 80 units of each product. You have to mark-up your two products to cover an unexpected increase in overhead costs. Based on the cost-plus pricing procedure we did in class, answer this question plus the next question. What is the percentage value of the mark-up you will put on Product A? Be careful; I am NOT asking you the value of "1 Plus the Mark Up", I am asking you the value of the mark up. Multiple Choice 80% 100% 150% 200%
When the price of candy bars increased from $0.45 to $0.55, the quantity demanded changed from 21,000 per day to 19,000 per day. In this price range, the price elasticity of demand coefficient (based on the midpoint formula) for candy bars is A) -1. B) -0.18. (C) -2. D -0.5.
1)lf the price of a product increases by 10 % and demand decreases by 25%. It is the situation of: A) Relatively elastic demand B) Unitary elastic demand C) Relatively inelastic demand D) Perfectly elastic demand 2. Which one of the following is average total cost (ATC) if the output is 100 units and total cost is RO 30000? A) 300 B) 30100 C) 150 D) 3100
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(b)The equation for Bingo chips demand curve is P = 3/Q. What is the elasticity of Bingo chips demand as price falls from 6 to 5? What is the elasticity of Bingo chips demand as the price falls from 10 to 9? Would you expect these answers to be the same?

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Calculate the elasticity when P=10, Qd=200-10P: options: -1 1 3 -3 Suppose demand is linear: Qd=a-bP We know that the price elasticity of demand is -0.5, quantity of demand Qd=100, price P=10, then: a=200,b=10 a=200, b=-10 a=150, b=5 a=50, b=-5