Hi please assist with the following questions, Using your knowledge of elasticity, answer the following questions...
Hi please assist with the following questions,
Using your knowledge of elasticity, answer the following questions where possible.
- My sales increased by 100 when I cut my price by $4. What is my elasticity?
- My sales increased by 10 % when I cut my price by 5 %. What is my elasticity?
- I cut my price by 20% to increase sales but they did not go up at all. What gives?
- I sell corn. Should I raise my price?
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Hi please assist with the following questions,
Using your knowledge of elasticity, answer the following
questions...
Hi please assist with the following questions, 1. My elasticity is 2.0 and I am contemplating...
Hi please assist with the following questions, 1. My elasticity is 2.0 and I am contemplating a price increase of 20%. If my sales are 1000 right now, how many sales could I expect to gain or lose? 2. My elasticity is .6. What should I do with my price? 3. My sales went up by 100 when I cut my price from $18 to $16. What is my elasticity?
Hi please assist with the following questions regarding excise taxes, Assume that the government has imposed...
Hi please assist with the following questions regarding excise taxes, Assume that the government has imposed a tax on the production and sale of pickup trucks in America. In what cases would that tax be absorbed more by consumers than manufacturers and vice versa? Under what circumstances would you expect the total excise tax to be borne by a consumer rather than by the producer? Or by the producer? Assume that the government imposed a 100% luxury tax on new...
Business owners are speaking about the price elasticity of demand without using the actual term Which...
Business owners are speaking about the price elasticity of demand without using the actual term Which one of the following Matements describes a good with a price elastic demand? O A With the recent economic recovery, people have more income to spend and sales are booming even at the previous prices OB. "A price won theme wont se sales and just got less money for each unit OC" don't think a price cut will make any difference to my bottom...
please answer questions 2, 3,4, 5 demanded by no more/leserseny e the price elasticity of demand...
please answer questions 2, 3,4, 5
demanded by no more/leserseny e the price elasticity of demand 2. If a firm can sell 3.000 units of product A at SIO per unit and 5.000 at 58, then the price elasticny of demand is (value) and it is (elastic/inelastic): (show your work) The price of product X is reduced from $100 to $90 and, as a result, the quantity demanded increases from 50 1000 units. Therefore, demand for X in this price...
Price Elasticity of Demand: Chippers Cookie Bakery Price Elasticity of Demand measurers how changed in a...
Price Elasticity of Demand: Chippers Cookie Bakery Price Elasticity of Demand measurers how changed in a price affect the quantity of the product demanded. Specifically, it is the ratio of the percentage change in quantity demanded to the percentage change in price. In order to understand how to plan a successful pricing program, marketers must understand how elastic or inelastic the consumers are to changes in price. In other words, to what extent will a price increase or decrease result...
please help with these 10 questions. Thank you 2. If the price elasticity of demand is...
please help with these 10 questions. Thank you
2. If the price elasticity of demand is 10, then for every 1% Increase in price, there is a: 1% decrease in quantity demanded. O 1% increase in quantity demanded. O 10% increase in quantity demanded. 10 / decrease in quantity demanded. sales of reels because the two goods are 3. If the cross elasticity of demand between fly rods and reels is -0.8, a decrease in the price of rods would...
Please answer the following questions: 1) What’s wrong with this way of thinking? “Economists claim that...
Please answer the following questions: 1) What’s wrong with this way of thinking? “Economists claim that when the price of something goes up, producers increase the quantity supplied to the market. But last year, the price of oranges was really high and the supply of them was really low. Economists are wrong!” 2. Motels along Myrtle Beach, NC, charge $100 a night in the summer but sometimes as little as $25 a night in the winter. Use supply and demand...
Part I Use the following information to answer the questions below. ObservationPriceQuantity A $4.00 16 ...
Part I Use the following information to answer the questions below. ObservationPriceQuantity A $4.00 16 B $6.00 10 1. Calculate a price elasticity of demand. You must show all your work to earn credit. 2. Given the elasticity of demand, a 10% increase in price will cause quantity demanded to fall by what percentage? Explain your answer. 3. Is this demand elastic or inelastic? Explain your answer. Part II Walmart advertises that it has rolled back prices. If Walmart is rolling...
PAPEK-T. MANAGERIALECONOMICS Full Marks - 40 Answer any two questions Two from each Module Module -I...
PAPEK-T. MANAGERIALECONOMICS Full Marks - 40 Answer any two questions Two from each Module Module -I A consumer's demand curve is basically a planning curve and is I. invisible'. Explain. What problem does it throw up to the pr having an exact knowledge of the market demand curve? How d producer overcome this problem (only mention)? If a production fun s given by Q symbols have their usual meanings. find the er in :: AL aKß where A, ? and...
i want the answers today please Answer the following questions 1) If a business had a...
i want the answers today please
Answer the following questions 1) If a business had a net loss for the year, what would be the closing entry to close income summary and transfer the net loss to the capital account? Explain with example. 2) The statement of changes in financial position was designed to enable financial statement users to answer questions like these: a) Where did the profit go? b) What do you mean by dividend? Explain c) How was...
Business owners are speaking about the price elasticity of demand without using the actual term Which one of the following Matements describes a good with a price elastic demand? O A With the recent economic recovery, people have more income to spend and sales are booming even at the previous prices OB. "A price won theme wont se sales and just got less money for each unit OC" don't think a price cut will make any difference to my bottom...
please answer questions 2, 3,4, 5
demanded by no more/leserseny e the price elasticity of demand 2. If a firm can sell 3.000 units of product A at SIO per unit and 5.000 at 58, then the price elasticny of demand is (value) and it is (elastic/inelastic): (show your work) The price of product X is reduced from $100 to $90 and, as a result, the quantity demanded increases from 50 1000 units. Therefore, demand for X in this price...
please help with these 10 questions. Thank you
2. If the price elasticity of demand is 10, then for every 1% Increase in price, there is a: 1% decrease in quantity demanded. O 1% increase in quantity demanded. O 10% increase in quantity demanded. 10 / decrease in quantity demanded. sales of reels because the two goods are 3. If the cross elasticity of demand between fly rods and reels is -0.8, a decrease in the price of rods would...
PAPEK-T. MANAGERIALECONOMICS Full Marks - 40 Answer any two questions Two from each Module Module -I A consumer's demand curve is basically a planning curve and is I. invisible'. Explain. What problem does it throw up to the pr having an exact knowledge of the market demand curve? How d producer overcome this problem (only mention)? If a production fun s given by Q symbols have their usual meanings. find the er in :: AL aKß where A, ? and...
i want the answers today please
Answer the following questions 1) If a business had a net loss for the year, what would be the closing entry to close income summary and transfer the net loss to the capital account? Explain with example. 2) The statement of changes in financial position was designed to enable financial statement users to answer questions like these: a) Where did the profit go? b) What do you mean by dividend? Explain c) How was...
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