Q: explain how the government use the concept of elasticity to regulate it prices
A: Meaning of Price Elasticity of Demand: The price elasticity of demand refers to the situation…
Q: Compute the price elasticity of demand if price of apples increases from $10 to $12 and quantity…
A: P1=$10 P2=$12 Q1=600 Q2=400
Q: Elasticity: What is elasticity? What is Price Elasticity of Demand? What is the formula that we will…
A: " Since you have posted a question with multiple sub-parts, we shall answer the first sub-parts . To…
Q: Calculate the price elasticity of demand? What will happen to the total revenue if the seller…
A: There exists a relationship between the average revenue(AR), which is basically the price(P), the…
Q: The income elasticities of demand for movies, dental services, and branded clothing have been…
A: The income elasticity of demand measures by how much the quantity of a decent or service changes…
Q: uppose that the price of a kilo of bananas drops from $6 to $4, and as a result, the quantity sold…
A: Law of demand states that price has an inverse relationship with quantity demanded.
Q: Nile.com, the online bookseller, wants to increase its total revenue. One strategy is to offer a 10%…
A:
Q: The following graph shows the daily demand curve for bippitybops in Calgary. Use the green rectangle…
A: Elasticity of demand: It can be defined as a measurement of the change in the quantity demanded of a…
Q: How is the price of fertilizer determined (keep in mind it uses petroleum) include: Taxes: is the…
A: Fertilizer ( Petroleum generated) Petroleum-generated fertilizers are those in which a large amount…
Q: what are the reason/s of banning McDonald’s from other country’s?
A: In a country like the United States, where McDonald's is as ubiquitous as a freckled face, the idea…
Q: $10 $10 a B $5 $5 DA b 20 40 60 80 100 10 20 30 40 Quantity Quantity Graph A Graph B efer the figure…
A: a. Total revenue = Price x Quantity Total revenue at price $10 = Price x Quantity= 10 x 40=…
Q: c. Explain why demand for Carmel cigarette tend to be more inelastic in the short run than in the…
A: The basic concept of the law of demand is price elasticity of demand (PED). It's an economic metric…
Q: the following graph, use the green point (triangle symbol) to plot the annual total revenue when the…
A: Elasticity of demand depicts how much consumer responds with the change in the price level.
Q: Why is increase in price money likely to decrease the total revenue of seller in the long run than…
A: Total revenue of a seller is price times quantity of output sold.
Q: PT TR 5. Demand can be said to bdirklashig)when: a. An increase in price results in a reduction in…
A: Change in percentage of quantity demanded divided by the change in the percentage of the price is…
Q: Price of Strawberries (p) Quantity Demanded 45,000 5 37,000 26,000 20,000 10 20 30 40 15,000 50…
A: Answer: (4). Revenue: revenue refers to the total income from the sale of a good. The formula of…
Q: New York State imposes some of the highest "sin tax" rates in the country. When I say "sin tax",…
A: Excise tax refers to a legislated taxed on specific goods and services at purchase such as liquor,…
Q: c) What is the usefulness of price elasticity of demand in business management and economic policy…
A: Price elasticity of demand tells the responsiveness in the quantity demanded due to changes in the…
Q: Use the information in the table below. Total sales Industry 1 Firm 1 $5.3m $199,000 $2. 6m $a50,…
A: H-Index is used to measure the market concentration. it helps us to know if market is competitive or…
Q: What is the market structure of the soda market, which 80% is controlled by Coke and Pepsi?
A: There are various firms exist in soda market. The main two firms are Coke and Pepsi.
Q: Suppose a college decide to raise the tuition fee from Rs.3, 000 per month to Rs.4, 000 of MBA level…
A: a) Given: Ed=0.2, Q1=500, P1=Rs. 3,000, P2=Rs. 4,000 We know that, Ed=∆Q∆P×PQ; where ∆Q=Q2-Q1 and…
Q: SOLVE FOR ELASTICITY. You need to solve all the blank spaces after the quantity demanded column. You…
A: Point Price Quantity Demanded F 8 0 A 7.2 10 B 4 50 C 0.8 90 G 0 100
Q: (Figure: The Demand for Winter Gloves) Use Figure: The Demand for Winter Gloves. Total revenue is…
A: Demand curve shows different combinations of quantity demanded at different price levels.
Q: In an episode of the TV show The Simpsons, the Simpsons find that their pet elephant Stampy is…
A: The revenue is the total amount that an individual get by selling its good or service.
Q: Your father owns a tourist site. He currently charges $5 per person who visits the site. Both…
A: i) For group Quantity demanded is 50 at price $5 Total revenue for group 1 = Quantity * price…
Q: The following graph shows the daily demand curve for bikes in Denver. Use the green rectangle…
A: Elasticity of demand depicts how much consumer responds with the change in the price level.
Q: 6. Elasticity and total revenue I The following graph shows the daily demand curve for bippitybops…
A: Blanks: 0.33 Inelastic, increase Inelastic
Q: The demand for yams is given by q = 5000 – 40p², where 9 is in pounds of yams and is the price of a…
A: The demand function represents the functional relationship between the quantity demanded of the good…
Q: The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged…
A: Price elasticity of demand refers to the proportionate change in the demand for goods and services…
Q: elasticity of demand
A: The ‘ep’ captures the % of quantity change to % of price change. It can be measured through…
Q: 1. Looking at the market for Sacramento Kings Coffee Mugs: Draw supply and demand curves that follow…
A: Since you have posted multiple questions, we will solve the first question for you. If you want any…
Q: The number of taxicabs in Motorville and the taxicab fares are regulated. The fare currently charged…
A: Demand is the willingness and ability of consumers for consuming and buying goods and services at…
Q: that produces the following goods and services. [Jadual 1 menunjukkan beberapa data harga dan…
A: Nominal GDP measures the market value of goods and services using current level of prices.
Q: Suppose a college has an enrollment of !0,000 students and all the students live in dorms and have a…
A: here we can conclude the following parts which are as follow-
Q: Could someone provide an explanation for Luxottica's elasticity of demand and supply?
A: Elasticity of demand measures the responsiveness of quantity demanded to changes in price.…
Q: The chart below shows how annual electricity for an average Ontario household would vary with the…
A: The price elasticity of demand measures the percentage by which the quantity demanded of a good or…
Q: a) Calculate the demand for good X in this market at the current price level. How much revenue would…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Suppose we know the following data about average income of consumers (proxied by GDP Per Capita) and…
A: Note: Since, you've posted question with multiple sub-parts, we will solve the first the first three…
Q: What is the relation between the marginal revenue amd the average revenue? a. the marginal revenue…
A: Revenue is the total income generated by the sales of goods and services produced in the economy.…
Q: Imagine you are a bank manager. Currently, your bank holds $3 million in deposits at a 3% interest…
A: Mid point method for elasticity is given by, Elasticity = (D2-D1)(D2+D1)/2(R2-R1)(R2+R1)/2 Where,…
Q: 3. GB Motor Company produced 600,000 bikes at a price of $440 each. The company made a profit of $60…
A: a)Revenue would have been expected to rise
Q: On the folowing graph, use the green point (triangle symbol) to plot the annual total revenue when…
A: The total revenue is the full amount of revenue earned by the sales. The formula for total revenue…
Q: Diamond Sisters (a monopolist in the sale of diamonds) has decided to increase the price of their…
A: Answer: Given, Increase in the price of industrial-grade diamonds = 10% The elasticity of demand for…
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- At the start of 2010 the UK was hit extremely As a cold weather including snow and ice. As result there was major increase in demand for a salt to put on the roads to make them fater, However, the supply of salt in the UK comes mainly from 3 salt mines. The storage was to great that at one point to use less hard shoulder the government ordered council on the roads & stopped gritting the moto 4 notorways. the to the less geht Problem in the past meant councils had been instructed to hold a few days of worth to make Salt but this stock of the was not enough coldest period roads safe in what was fince 1963. I Drew the Supply curve that represents supply of salt. the why did the councils keep Stocks of salt ? "As it was severe winter, the demand of salt was high to for geathing & Supply couldn't keep pace with lit started to stock salt. so the councils I. Add to your first diagram a long curve for salt. Explain your diagram. run supplyThe Krampf Lines Railway Company specializesin coal handling. On Friday, April 13, Krampf hadempty cars at the following towns in the quantitiesindicated: Town Supply of Cars Morgantown 35 Youngstown 60 Pittsburgh 25 By Monday, April 16, the following towns will needthe numbers of coal cars listed: Town Demand for Cars Coal Valley 30 Coaltown 45 Coal Junction 25 Coalsburg 20 Using a railway city-to-city distance chart, the dis-patcher constructs a mileage table for the preceding towns. The result is shown in the table on this page.Minimizing total miles over which cars are movedto new locations, compute the best shipment of coalcars.Use graphs to demonstrate the effect of ashift in supply or demand, and describe what causesthese curves to shift
- E Unit 3 Midterm Economics A docs.google.com/forms/d/e/1FAlpQLSfDzcagnpq9EUKBs3AWMb. is determined by the interaction of supply, demand, and price. * 2 points Effective Demand O Simple Demand Quantity Demand Actual Demand All of These O None of These Market Systems/Capitalist Economies are controlled by is what is actually bought by consumers, businesses, and government) (which Effective Demand Simple Demand Quantity Demandedplease draw the graph for question3, dont you respond me with chat gpt and dont give and writen solution Draw a correctly labelled demand and supply graph for the market for toilet paper in the US with an equilibrium price of $20 per pack: You should label your vertical axis as "Price" and the horizontal axis as "Quantity". Draw a downward-sloping demand curve and an upward-sloping supply curve. Label the point where they intersect as the equilibrium point, with a price of $20 per pack. During the pandemic, more people were buying toilet paper in fear that it would run out. On the same graph, show how this affects the market for toilet paper. Explain your answer: The increased fear would cause a shift to the right in the demand curve, indicating higher demand at each price level. This would move the equilibrium point up along the supply curve, indicating a higher price and quantity sold. Now impose a price ceiling at $15 per pack. What would be the impact of the price ceiling…What is the difference between the supply andthe quantity supplied of a product, say milk? Explainin words and show the difference on a graph with thesupply curve for milk.
- Use the following information toanswer the questions belowComputers:Soybeans:Total revenue =Total120revenue = 120Payments to labor =60Paymentsto labor = 80Payments to capital =60Paymentsto land = 40Holding the price of computersconstant, suppose the price ofsoybeans rises 10% and that the wagerate increases 5%.a. What is the effect of these changeson the rental rate of capital?b. What is the effect of these changeson the rental rate of land?3. Determinants of demand The following graph shows the demand curve for sedans (for example, Toyota Camrys or Honda Accords) in New York City. For simplicity, assume that all sedans are identical and sell for the same price. Initially, the graph shows market demand under the following circumstances: Average household income is $50,000 per year, the price of a gallon of gas is $4.00 per gallon. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. Graph Input Tool Demand for Sedans Demand for Sedans 40 I Price of a sedan 15 (Thousand of dollars) Quantity Demanded 563 (Sedans per month) Demand Shifters Average Income (Thousands of dollars) 50 Demand 10 Price of Gas 4 (Dollars per gallon) 100 200 300 400 500 600 700 800 900 QUANTITY (Sedans per month) PRICE (Thousands of dollars per…What is the difference between the demand and the quantity demanded of a product, say milk? Explain in words and show the difference on a graph with a demand curve for milk.
- If the price of a magazine is 4 each, what is the maximum number of magazines she could buy in a week?Suppose Alphonsos town raised the price of bus tickets to 1 per trip (while file price of burgers stayed at 2 and his budget remained 10 per week.) Draw Alphonsos new budget constraint. What happens to file opportunity cost of bus tickets?Think back to a purchase that you made recently. How would you describe your thinking before you made that purchase?
