The demand for Tesla model III can be described as: Q= -32,500-0.5P+2I Currently, each Model III...
The demand for Tesla model III can be described as: Q= -32,500-0.5P+2I
Currently, each Model III is sold at $35,000 and Tesla is selling 50,000 Model III every month. Please calculate the price elasticity of demand and income elasticity at current equilibrium.
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The demand for Tesla model III can be described as: Q=
-32,500-0.5P+2I
Currently, each Model III...
1- The inverse demand for the Tesla electric automobile is Qd = 100,000 - 0.5P, where...
1- The inverse demand for the Tesla electric automobile is Qd = 100,000 - 0.5P, where P is in S/car and is the number of cars sold per year. Currently, the U.S. government offers incentives to buyers of electric vehicles worth $5000. If the current selling price of the Tesla is $75,000, what is consumer surplus when the subsidy is available? What will be the change in consumer surplus after the incentive has expired? (Hint: draw the demand curve)
Q9. The demand for widgets (Q) is given by the following equation Q 500 - 100 P. -50P, - 150 A, + 200A the price o...
Q9. The demand for widgets (Q) is given by the following equation Q 500 - 100 P. -50P, - 150 A, + 200A the price of widgets, currently at 25 P, the price of woozles, currently at 20 A,-Advertising on woozles currently at 10. A,-Advertising for widgets currently at 30 The cost per widget is currently 20 and the manufacturer where P behaves as a monopolist (a) What are current profits equal to? (b) Calculate the elasticity of demand for...
Let the market demand for widgets be described by Q = 1000 − 50P. Suppose further...
Let the market demand for widgets be described by Q = 1000 − 50P. Suppose further that widgets can be produced at a constant average and marginal cost of $10 per unit. a. Calculate the market output and price under perfect competition and under monopoly. b. Define the point elasticity of demand εD at a particular price and quantity combination as the ratio of price to quantity times the slope of the demand curve, Q/P, all multiplied by −1. What...
Please be descriptive. The market demand curve in a commodity chemical industry is given by Q...
Please be descriptive.
The market demand curve in a commodity chemical industry is given by Q 600 - 3P, where Q is the quantity demanded per month and P is the market price in dollars. Firms in this industry supply quantities every month, and the resulting market price occurs at the point at which the quantity demanded equals the total quantity supplied. Suppose there are two firms in this industry, Firm 1 and Firm 2. Each firm has an identical...
1. Suppose den and for one pound of pork is given by QD = 12 -...
1. Suppose den and for one pound of pork is given by QD = 12 - 2P and supply of one pound of pork is given by QS = -6 + 3P. (a) Solve for the equilibrium price (P) and equilibrium quantity (Q.). (b) Calculate the price elasticity of supply and demand at the equilibrium point. Which is more elastic, demand or supply? (c) The production of pork can pose significant negative effects on the environment and human health. Suppose...
Consider the following supply and demand model derived from a small farming town qCD=.5I-.1PC (1)...
Consider the following supply and demand model derived from a small farming town qCD=.5I-.1PC (1) qCS=1.9PC+5R (2) Where equation (1) denotes the monthly demand for corn and equation (2) denotes the monthly supply for corn. (PC) is the price of corn, (I) denotes average consumer income, and (R) denotes average monthly days of rainfall. Based on the supply and demand model depicted in equations (1) and (2): If average monthly consumer income is 200 and average rainfall per...
Consider an (inverse) demand curve P = 30 - Q. And a total cost curve of...
Consider an (inverse) demand curve P = 30 - Q. And a total cost curve of C(Q) = 12Q. (a) Assume a monopolist is operating in this market. (i) Calculate the quantity (qM) chosen by a profit-maximizing monopolist. (ii) At the profit-maximizing quantity, what is the monopolistic market price (pM) of the product. (iii) Calculate the dead-weight loss (allocative inefficiency) associated with this monopoly market. Assume the market for this product is perfectly competitive. (i) Calculate the market-clearing output (qPC)...
Using supply analysis, explain how is supply applied in the article below about Tesla.? Thank you...
Using supply analysis, explain how is supply applied in the article below about Tesla.? Thank you so much for your help. Factors Affecting Supply (Tesla) The Cost of Production and Cutting Off Unprofitable Vehicle Models In January of 2019, Tesla cut 7% of its workforce to ramp up production of its Model 3 sedans, reducing the price of its products and boosting margins. At the same time, the company discontinued the cheapest versions of its Model S sedans and Model...
C) Suppose that the demand and supply for pizza on a college campus is given by Demand: Qd 20,000...
c) Suppose that the demand and supply for pizza on a college campus is given by Demand: Qd 20,000 1,000P Supply: Qs 2,000P - 10,000 Where Qd is demand, Qs is supply and P is the price per pizza in dollars. Please put your numerical answers to each part of this question in the table below. Write your explanation in your exam book. I book. a) Solve for the equilibrium price and quantity, consumer and producer surplus, and DWL. Explain...
Case 1 (12 marks) It becomes important for managers to accurately forecast the demand of their...
Case 1 (12 marks) It becomes important for managers to accurately forecast the demand of their product and also understand as how the demand of other products might affect their own product's demand. In a rapidly growing market like energy drinks, firms need to capture the market scenario quick enough. Firms that fail to keep up the changing pace with the market can lose out to their competitors. Red bull is one of the brands in the energy drink industry....
1- The inverse demand for the Tesla electric automobile is Qd = 100,000 - 0.5P, where P is in S/car and is the number of cars sold per year. Currently, the U.S. government offers incentives to buyers of electric vehicles worth $5000. If the current selling price of the Tesla is $75,000, what is consumer surplus when the subsidy is available? What will be the change in consumer surplus after the incentive has expired? (Hint: draw the demand curve)
Q9. The demand for widgets (Q) is given by the following equation Q 500 - 100 P. -50P, - 150 A, + 200A the price of widgets, currently at 25 P, the price of woozles, currently at 20 A,-Advertising on woozles currently at 10. A,-Advertising for widgets currently at 30 The cost per widget is currently 20 and the manufacturer where P behaves as a monopolist (a) What are current profits equal to? (b) Calculate the elasticity of demand for...
Please be descriptive.
The market demand curve in a commodity chemical industry is given by Q 600 - 3P, where Q is the quantity demanded per month and P is the market price in dollars. Firms in this industry supply quantities every month, and the resulting market price occurs at the point at which the quantity demanded equals the total quantity supplied. Suppose there are two firms in this industry, Firm 1 and Firm 2. Each firm has an identical...
1. Suppose den and for one pound of pork is given by QD = 12 - 2P and supply of one pound of pork is given by QS = -6 + 3P. (a) Solve for the equilibrium price (P) and equilibrium quantity (Q.). (b) Calculate the price elasticity of supply and demand at the equilibrium point. Which is more elastic, demand or supply? (c) The production of pork can pose significant negative effects on the environment and human health. Suppose...
c) Suppose that the demand and supply for pizza on a college campus is given by Demand: Qd 20,000 1,000P Supply: Qs 2,000P - 10,000 Where Qd is demand, Qs is supply and P is the price per pizza in dollars. Please put your numerical answers to each part of this question in the table below. Write your explanation in your exam book. I book. a) Solve for the equilibrium price and quantity, consumer and producer surplus, and DWL. Explain...
Case 1 (12 marks) It becomes important for managers to accurately forecast the demand of their product and also understand as how the demand of other products might affect their own product's demand. In a rapidly growing market like energy drinks, firms need to capture the market scenario quick enough. Firms that fail to keep up the changing pace with the market can lose out to their competitors. Red bull is one of the brands in the energy drink industry....
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