Please provide steps by step answer with proper explanation with final answer You are the manager of a firm that receives revenues of $20,000 per year from product X and $80,000 per year fromproduct Y. The own price elasticity of demand for product X is -3, and the cross-price elasticity of demand betweenproduct Y and X is -1.6. How much will your firm's total revenues (revenues from both products) change if you increase theprice of good X by 2 percent?

Calculate the effect on the quantity demanded of product X: Own-price elasticity of demand for…

Answered: You are the manager of a firm that…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Chelsea has to pay a series of uniform annual payments over a fixed period of time to repay a loan that would amount to $1,000,000. If Chelsea has to pay $30,000 per year for a rate of 6%, how long should she pay these uniform payments in order to repay her loan? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
H applied for a individual major medical policy. When H filed a claim within the first year of coverage and the underwriter noticed that the H's age on the claim form was different than what was listed on the application. The insurer will take which of the following actions regarding H's claim? A: Deny the claim and refund premiums B: Deny the claim, cancel the policy and keep all premiums C: Pay the claim in full and keep the policy as is D: Adjust the claim benefit amount to the insured's correct age
How might the confirmation tendency affect Nathan's decision and what could he do to mitigate the possible effects of this tendency in order to improve his professional judgment?
how about the 4,5,6. Please answer. Thanks.
Which option is the most effective for companies and employees: a standard fee-for-services health care insurance option or a high-deductible health insurance plan.
James has two young children (Finn and lain) who are visiting the doctor for their annual well-child check-ups. The doctor's office charges $105 for well-child appointments. Health insurance pays 100% of the costs associated with well-child visits and does not require a copayment. James' health plan monthly premium is $1,400 and has a $1,000 deductible. How much will James be charged when the appointment is done?
If a standard-setting body is ‘captured’ by the profession, are there any steps that the government can take to make the body independent? If so, should the government take those steps? Justify your answer.
Sarah purchased an individual medical expense insurance policy that included a $250 deductible and an 80-20 coinsurance provision. She required medical care and the cost of the care provided was $40,750. How much of this amount must Sarah pay and how much will her insurer pay? How would your answer change if Sarah's policy included a $3,000 out-of- pocket limit that applied to coinsurance payments? . HINT (Coinsurance is calculated after you pay your deductible)
Use discriminant analysis to classify the accompanying new records using only Credit Score and Years of Credit History as input variables. Click here to view the credit approval data. Click here to view the new records. Complete the following table. (Round to four decimal places as needed.) Homeowner Credit Score Years of Credit History Revolving Balance Revolving Utilization Discriminant Score Decision Y 548 5 N 662 4 Y 724 12 N 14 N Y 704 592 684 New Records 9 15 $21,000 $4,000 $8,500 $16,300 $2,500 $16,700 N Y N N Y 548 662 724 704 592 684 5 4 15% 90% 25% 70% 90% 18% Homeowner Credit Score Years of Credit History Revolving Balance Revolving Utilization Decision t Y 12 14 9 15 Print $21,000 $4,000 $8,500 $16,300 $2,500 $16,700 000000 Done PEPPE Y 15% 90% 25% 70% 90% 18% Y
Mandy Cohen, former Secretary of the North Carolina Department of Health and Human Services, in her interview with Namita Seth Mohta, MD, identified two specific areas where healthcare and public health are moving toward the same goal. What are two areas she mentioned? infant mortality, teenage smoking teenage smoking, water quality water quality, early childhood education water quality, infant mortality Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
None
The manufacturer of Brand A automobile tires claims that its tire can save 120 gallons of fuel over 54,000 miles of driving, as compared to a popular competitor (Brand B). If gasoline costs $4.00 per gallon, how much per mile driven does this tire save the customer (Brand A versus Brand B)? The savings are $ per mile. (Round to three decimal places.)

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