Demand would be unitary elastic in the middle portion of the demand curve where P= 30
Option(C)
Refer to the graph below: Price (Dollars) 6,000 Quantity Demand is unitary elastic at P =...
Refer to the graph below: Price (Dollars) 6,000 Quantity The equation for demand is O Q=6,000 - 60P O Q = 60 -0.01P. O P=60 -0.010 O P=6,000 - 600
Graph A Graph B Price . (dollars) P Price (dollars) N: D HT Quantity (units per time period) Quantity (units per time period) Graph C Graph D P1-11 Price (dollars) Price (dollars) - --- QQ Quantity (units per time period) Q Q Quantity (units per time period) 5) Refer to the above diagrams. Which of the graphs depicts the effect of a decrease in the price of domestic cars on the demand for foreign cars? A) Graph D. B) Graph...
Refer to the graph below: Price (Dollars) 6,000 Quantity Marginal revenue is zero at Q= 0 1,00 units O O 3,000 units 6,000 units 2,000 units
Refer to the graph below: Price (Dollars) 6.000 Quantity The equation for marginal revenue is OMR = 12,000 - 1200 OMR = 6,000 -0.010 OMR = 60 -0.020 OMR = 60 - 2000
2. Elastic, inelastic, and unit-elastic demand Aa Aa The following graph shows the demand for a good. PRICE (Dollars per unit) W 140 1 Demand х 70 -* 50 1 Z 20 הר--- 1 0 10 25 35 70 QUANTITY For each of the following regions, use the midpoint method to identify whether the demand for this good is elastic, (approximately) unitary elastic, or inelastic. Elastic, Inelastic, or Unitary Elastic? Region Between W and X Between X and Y Between...
Refer to the graph below: Price or Cost (dollars per unit) Demand ML 2 4 6 8 10 12 14 16 18 Quantity (units per period) Instructions: Enter your responses as a whole number a. b. Identify the short-run equilibrium of a monopolistically competitive firm. (Hint Think about the difference between "initial' and later' demand.) At that equilibrium, what is: Price? (ii) Output? D units Cili) Total Profit? $ profit c, d. Identify the long-run equilibrium of the same firm....
x = 400 − 5p(0 ≤ p ≤ 80). (a)Is the demand elastic or inelastic when p = 50? Is the demand elastic or inelastic when p = 60? (b)When is the demand unitary? (c)If the unit price is lowered slightly from $60, will the revenue increase or decrease? (d)If the unit price is increased slightly from $50, will the revenue increase or decrease?
PRICE Demand Q2 Q1 QUANTITY Refer to Figure 5-4. Total revenue when the price is P 1 is represented by a. areas A+B. b. areas C+D. C. area D. d. areas B+D. ESTION 11 Which of the following could be the price elasticity of demand for a good for which a decrease in price would increase total revenue? a. 2.8 o 6.0.3 C. 3.6 d. 1 PRICE Demand Q2 Q1 QUANTITY Refer to Figure 5-4. If rectangle D is larger...
1. Refer to the graph below to answer the following questions Price A. Quantity a. What is the producer surplus at the equilibrium price? b. What is the consumer surplus at the equilibrium price? c. What is the producer surplus of new manufacturers when the product price changes from P to P? d. Will consumer surplus increase or decrease (circle your answer) when the product's price decreases from Ps to P? What is the size of the change in consumer...
Refer to the table. Demand is unit elastic between the prices of Quantity Demanded Price per Unit S10.00 9.50 9.00 8.50 8.00 7.50 7.00 6.50 6.00 5.50 5.00 r Week 0 A. S6.00 & S6.50. O B. $7.00& $7.50 C. $5.00 & S 10.00. O D. S6.00 & S7.00.