When the price of DVDs falls from 10 to 8, the quantity supplied of DVDs falls from 398 to 216. What is the price elasticity of supply of DVDs? (Enter your answer as a decimal rounded to two decimal places, not a fraction)
Price elasticity of supply = percentage change in supply quantity/ percentage change in price
Percentage change in price = 8-10/10 = -2/10 = -20%
Percentage change in supply = 216-398/398 = -45.72%
Price elasticiy of supply = 20%/45.72% = 0.43744
Price elasticty of supply = 43.74%
When the price of DVDs falls from 10 to 8, the quantity supplied of DVDs falls...
Directions: I would like work shown and when the answer is acquired please circle it. 1) When the price of notebooks falls from 5 to 1, the quantity demanded of notebooks rises from 141 to 277. What is the price elasticity of demand of notebooks? (Enter your answer as a decimal rounded to two decimal places, not a fraction and do not put a negative sign) Directions: I would like work shown and when the answer is acquired please circle...
If the price of coffee falls by 10 percent and the quantity supplied of coffee falls by 1.5 percent then the elasticity of supply of coffee is: A. 6.67. B. 0.15. C. 10. D. 1.5.
suppose that when the price increases from 7 to 14, the quantity supplied increases from 35 to 82. what is the elasticity of supply
Businesses producing loaves of bread decrease the quantity
supplied 10 percent when the price decreases by 5 percent. The price elasticity of supply for
bread is
Question 5 1 pts Businesses producing loaves of bread decrease the quantity supplied 10 percent when the price decreases by 5 percent. The price elasticity of supply for bread is 1.0 0.4 0.2 4.0 2.0
The economy of Tuland produces only two products books books and dvds dvds. The following information is available for production and prices of Tuland's products for the years 2009 and 2010. 2009 2010 Quantity of books 50 55 Quantity of dvds 2 4 Price of books $1.00 $1.05 Price of dvds $50.00 $30.00 Using above information, calculate the following values. Real GDP for 2009 using 2009 as base year equals $. (Enter your response rounded to two decimal places.) Real...
The price of a bell pepper increases from $1 to $1.20. Quantity supplied for bell peppers increases from 40 to 60. Price elasticity of supply for bell peppers is (A) 2.5 (B) 1.5 (C) 2.0 (D) 0.2 (E) 0.5 The price of a peach falls from $2 to $1.40. Quantity supplied for peaches falls from 100 to 85. Price elasticity of supply for peaches is (A) -0.5 (B) 2 (C) 0.3 (D) 0.15 (E) 0.5 If a sandwich shop can...
Suppose the weekly demand and supply curves for used DVDs in
Lincoln, Nebraska, are as shown in the diagram:
Use the following values for the graph above:
A
B
C
D
E
F
G
H
I
20.00
19.00
17.50
13.00
10.00
4
10
28
80
Calculate the following at the equilibrium price of $17.50.
a. The weekly consumer surplus at the market equilibrium
price.
Instruction: Enter your response rounded to two
decimal places.
$ per week.
b. The weekly producer surplus...
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Suppose the weekly demand and supply curves for used DVDs in Lincoln, Nebraska, are as shown in the diagram: Market for used DVDs F G Quantity (DVDs/week) Use the following values for the graph above 12.00 Calculate the following at the equilibrium price of S10.50 a. The weekdy consumer surplus at the market equilibrium price Inatruction: Enter your response rounded to two decimal places. 11.50 10.50 7.50 6.00 18 per week. b. The weekdy producer surplus at the market equilibrium...
If the price of a good increases by 10% and the quantity supplied increases by 30%, what is the elasticity of supply? Does this product have an elastic, unitary elastic or inelastic supply? explain why