Homework Answers
17.The products sold at the convenience stores are complements of gas and have less elastic demand.
Answer-D
18.Answer-D
Price can increase as a result of-
Increase in demand/supply or simultaneous increase in both.
19.When MP is falling MC is rising.
Answer-C
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QUESTION 17 Gas stations can price the products that they sell in their convenience store a...
pls answer all 4 QUESTION 1 A gas station opened up on stretch of highway where there are no other gas stations clo...
pls answer all 4
QUESTION 1 A gas station opened up on stretch of highway where there are no other gas stations close by. It is more likely to be able to set higher prices because a the demand for its product is more elastic due to an unavailability of substitutes b the demand for its product is more inelastic due to an unavailability of substitutes e the demand for its product is more inelastic due to an availability of...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage O . Making sure that the resource developed is non-fungible to create a sustainable advantage Od. All of the above QUESTION 25 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on...
cm Od these products are usually substitutes to the gas sales and the demand for gas...
cm Od these products are usually substitutes to the gas sales and the demand for gas is inelastic QUESTION 27 Assumptions that under lie the Resource-based View include a. Resource heterogeneity b. Resource immobility Oo. Barriers to entry Od. Botha and b QUESTION 28 A supply curve slopes upwards because On the higher the price the higher the quantity that the sellers are willing to supply b. an increase in price brings the quantity sold down to zero the quantity...
QUESTION 18 If the cross price elasticity of two goods is -3.5, then these two products...
QUESTION 18 If the cross price elasticity of two goods is -3.5, then these two products are relatively inelastic complements. these two products are relatively elastic substitutes. these two products are relatively elastic complements. these two products are relatively inelastic substitutes. QUESTION 19 A monopolist faces the inverse demand curve p = 60 - Q. It has varia Click Save and Submit to save and submit. Click Save All Answers to sau lenovo Esc F1 12 13 F5 (0)
please answer the 3:) thanks Question completion Status: be -1.5. Based on this information, we know the goods...
please answer the 3:)
thanks
Question completion Status: be -1.5. Based on this information, we know the goods are An economist estimated the cross-price elasticity for peanut butter a complements b. inferior goods c. substitutes d. inelastic. QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making...
13,000 34 cellular phones at a price p dollars per phone. The current price is $102. electronic store can sell q(0+41 (p+41) a) Is demand elastic or inelastic at p 102? (b) If the price is raised sli...
13,000 34 cellular phones at a price p dollars per phone. The current price is $102. electronic store can sell q(0+41 (p+41) a) Is demand elastic or inelastic at p 102? (b) If the price is raised slightly, will revenue increase or decrease? (a) Is the demand elastic or inelastic at p 102? O A. Elastic, because E(p)when p 102, which is greater than 1. O B. Elastic, because E(p) when p 102, which is less than 1 OC. Inelastic,...
QUESTION 1 Use the following demand schedule. Quantity Price So S2 $4 S6 s8 45 35...
QUESTION 1 Use the following demand schedule. Quantity Price So S2 $4 S6 s8 45 35 25 15 work. Interpret this number. Is the elasticity of demand elastic, inelastic, or unit elastic between S6 and SS Given your Explain. Using the midpoint method, what is the price elasticity of demand between S6 and $87 Show your answers would a price increase from S6 to $8 increase or decrease total revenue for the firm? TTTArial Chick Save and Submit to save...
please answer ,question 8,9,10,11,12. 8. When the percentage change in price is greater than the resulting...
please answer ,question 8,9,10,11,12.
8. When the percentage change in price is greater than the resulting percentage change in quantity demanded A) a decrease in price will increase total revenue B) demand may be either elastic or inelastic. C) an increase in price will increase total revenue. D) demand is elastic. 9. Suppose the price elasticity coefficients of demand are 1.43, 0.67, 1.11, and 0.29 for products W, X, Y, and Z respectively. A 1 percent decrease in price will...
QUESTION 25 A price elasticity of 3 indicates that a: a. 3% increase in price will...
QUESTION 25 A price elasticity of 3 indicates that a: a. 3% increase in price will increase Qd(sales) 1% Ob.3% increase in price will decrease Qd(sales) 1% Oc 1% Increase in price will decrease Qd(sales) 3% 1% decrease in price will decrease Qd(sales) 3% Od. QUESTION 26 Based upon the determinants of demand elasticity, the price elasticity for toothpaste would be: O a. perfectly inelastic Ob.elastic O c. inelastic unitary elastic Od.
16. Suppose that the price of one product increases from $11 to $42. As a result,...
16. Suppose that the price of one product increases from $11 to $42. As a result, quantity demanded for another product changes from 260 to 180. Based on this information you can tell that these two products are (select one): a. complements b. normal C. substitutes d. inferior 17. Suppose that when the store increases the price of laundry detergent from $2.50 to $3.90, quantity demanded decreased from 210 to 130. What is the change in total revenue as a...
pls answer all 4
QUESTION 1 A gas station opened up on stretch of highway where there are no other gas stations close by. It is more likely to be able to set higher prices because a the demand for its product is more elastic due to an unavailability of substitutes b the demand for its product is more inelastic due to an unavailability of substitutes e the demand for its product is more inelastic due to an availability of...
QUESTION 24 Strategy is O a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage O . Making sure that the resource developed is non-fungible to create a sustainable advantage Od. All of the above QUESTION 25 An economist estimated the cross-price elasticity for peanut butter and bananas to be -1.5. Based on...
cm Od these products are usually substitutes to the gas sales and the demand for gas is inelastic QUESTION 27 Assumptions that under lie the Resource-based View include a. Resource heterogeneity b. Resource immobility Oo. Barriers to entry Od. Botha and b QUESTION 28 A supply curve slopes upwards because On the higher the price the higher the quantity that the sellers are willing to supply b. an increase in price brings the quantity sold down to zero the quantity...
QUESTION 18 If the cross price elasticity of two goods is -3.5, then these two products are relatively inelastic complements. these two products are relatively elastic substitutes. these two products are relatively elastic complements. these two products are relatively inelastic substitutes. QUESTION 19 A monopolist faces the inverse demand curve p = 60 - Q. It has varia Click Save and Submit to save and submit. Click Save All Answers to sau lenovo Esc F1 12 13 F5 (0)
please answer the 3:)
thanks
Question completion Status: be -1.5. Based on this information, we know the goods are An economist estimated the cross-price elasticity for peanut butter a complements b. inferior goods c. substitutes d. inelastic. QUESTION 33 Strategy is a. The art of matching the resources and capabilities of a firm to the opportunities and risks in its environment Ob Developing a resource for the company that is both rare and valuable to create competitive advantage c. Making...
13,000 34 cellular phones at a price p dollars per phone. The current price is $102. electronic store can sell q(0+41 (p+41) a) Is demand elastic or inelastic at p 102? (b) If the price is raised slightly, will revenue increase or decrease? (a) Is the demand elastic or inelastic at p 102? O A. Elastic, because E(p)when p 102, which is greater than 1. O B. Elastic, because E(p) when p 102, which is less than 1 OC. Inelastic,...
QUESTION 1 Use the following demand schedule. Quantity Price So S2 $4 S6 s8 45 35 25 15 work. Interpret this number. Is the elasticity of demand elastic, inelastic, or unit elastic between S6 and SS Given your Explain. Using the midpoint method, what is the price elasticity of demand between S6 and $87 Show your answers would a price increase from S6 to $8 increase or decrease total revenue for the firm? TTTArial Chick Save and Submit to save...
please answer ,question 8,9,10,11,12.
8. When the percentage change in price is greater than the resulting percentage change in quantity demanded A) a decrease in price will increase total revenue B) demand may be either elastic or inelastic. C) an increase in price will increase total revenue. D) demand is elastic. 9. Suppose the price elasticity coefficients of demand are 1.43, 0.67, 1.11, and 0.29 for products W, X, Y, and Z respectively. A 1 percent decrease in price will...
QUESTION 25 A price elasticity of 3 indicates that a: a. 3% increase in price will increase Qd(sales) 1% Ob.3% increase in price will decrease Qd(sales) 1% Oc 1% Increase in price will decrease Qd(sales) 3% 1% decrease in price will decrease Qd(sales) 3% Od. QUESTION 26 Based upon the determinants of demand elasticity, the price elasticity for toothpaste would be: O a. perfectly inelastic Ob.elastic O c. inelastic unitary elastic Od.
16. Suppose that the price of one product increases from $11 to $42. As a result, quantity demanded for another product changes from 260 to 180. Based on this information you can tell that these two products are (select one): a. complements b. normal C. substitutes d. inferior 17. Suppose that when the store increases the price of laundry detergent from $2.50 to $3.90, quantity demanded decreased from 210 to 130. What is the change in total revenue as a...
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