Ooredoo liA docs.google.comWhich of the following is nevernegative?average productmarginal productproduction elasticityO marginal rate of technical substitutionThe variation in an economic time-series which is caused by majorexpansions or contractions usually ofgreater than a year in duration is knownas:secular trendunpredictable random factorcyclical variationseasonal effect ۱۰:۰۳ صOoredoo liA docs.google.comConsider the following linear demandfunction where QD = quantitydemanded, P = selling price, and Y =disposable income: QD = -36 - 2.1P +.24Y. The coefficient of Y (i.e., .24)indicates that (all other things beingheld constant): *for a one unit increase in disposableincome, quantity demanded wouldincrease by 2.1 unitsfor a one percent increase indisposable income, quantitydemanded would decline by 2.1percentfor a one percent increase indisposable income, quantitydemanded would decline by 0.24percentfor a one percent increase indisposable income, quantitydemanded would increase by 0.24percent

1) From the given options, the average product can never be negative. This is because the average…

Which of the following is never negative? * average product marginal product O production elasticity marginal rate of technical substitution The variation in an economic time- series which is caused by major expansions or contractions usually of greater than a year in duration is known as: secular trend O unpredictable random factor cyclical variation seasonal effect

Which of the following is never negative? * average product marginal product O production elasticity marginal rate of technical substitution The variation in an economic time- series which is caused by major expansions or contractions usually of greater than a year in duration is known as: secular trend O unpredictable random factor cyclical variation seasonal effect

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Assume that a retailer sells 1000 six packs of Pepsi per day at at $3./6pk. You, as an economic analysis , estimate that the cross price elastcity between pepsi and coca cola is 0.4. If the retailer raises the price of coca cola by 10%, how would sales of pepsi be affected, ceteris paribus, why
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When the price of mustard oil increased from 70 taka per litre to 90 taka per litre thequantity demanded in the market fell from 47,000 litres to 40,000 litres. Using the pointelasticity method, calculate the price elasticity of demand of mustard oil. What type ofdemand does mustard oil have?
The price elasticity of demand for a good is calculated as 1.36. From this elasticityco-efficient, we can tell that:(2)(1) The good is not a necessity;(2) The good has many close substitutes;(3) Producers can increase total revenue by decreasing the price of the good;(4) Statements 1, 2 and 3 are all correct.
½ 1.CQLPrecalc.2 The monthly supply S(p) and demand D(p) for a video game console is given by the graphs. Complete parts a-e below. Quantity, q S(p) = D(p) = (Type expressions using p as the variable.) 5000- 4500- 4000- 3500- 3000- 2500 2000-€ 1500- 1000- 500-S(p) 0+ 0 (p) 200 400 600 800 1000 Selling price per unit, p a) Describe how the increased selling price of an item affects the consumer demand and producer supply. If the selling price of an item is higher than it should be, the consumer demand for the item will decrease and the producer's willingness to supply it will increase. b) Find formulas for the functions q = D(p) and q = S(p).
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