27) You produce jewellery boxes. If the demand for jewellery boxes is elastic and you want to increase your total revenue, what should you do?Select one:O a. You should not change the price of your jewellery boxes.cross outO b. You should decrease the price of your jewellery boxes.cross outO c. You should not change the price of your jewellery boxes but increase thequantity produced.cross outO d. You should increase the price of your jewellery boxes.cross out

The revenue is maximum at unit elastic demand and the price and absolute value of elasticity are…

You produce jewellery boxes. If the demand for jewellery boxes is elastic and you want to increase your total revenue, what should you do? Select one: O a. You should not change the price of your jewellery boxes. O b. You should decrease the price of your jewellery boxes. Oc You should not change the price of your jewellery boxes but increase the quantity produced. O d. You should increase the price of your jewellery boxes.

You produce jewellery boxes. If the demand for jewellery boxes is elastic and you want to increase your total revenue, what should you do? Select one: O a. You should not change the price of your jewellery boxes. O b. You should decrease the price of your jewellery boxes. Oc You should not change the price of your jewellery boxes but increase the quantity produced. O d. You should increase the price of your jewellery boxes.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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32. The seasonal indices of the sales of garments of a particular type in a certain shop are given below: Quarter Seasonal index Oct.-Dec. Apr.-June 85 July-Sept. 83 Jan.-March 97 135 If the total sales in the first quarter of a year be worth $15,000 and sales are expected to rise by 4% in each quarter, determine how much worth of garments of this type be kept in stock by the shop-owner to meet the demand for each of three quarters of the year.
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.
2. (a) What does the index of intra-industry trade measure and does it tell us anything about the total amount of trade? (b) There are two ways of measuring the degree of intra-industry trade within an industry: min (imports, exports) Index of intraindustry trade = 1 2 (imports + exports) -(lexpe (lexports - imports| exports + imports Grubel Lloyd index = 1 - Using the first formula, calculate the index of intra-industry trade for the U.S in 2014 for the products on Table 1. Using your answer in (b) above, what does the index of intra- industry trade of men's shorts, large passenger aircraft, telephones and golf carts tell us? (d) What are the two necessary conditions to obtain a high index of intra-industry trade?
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Pls answer 54
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