The Questions Macroeconomics / Microeconomics

G. Identify by price range the areas on the demand curve where demand is elastic, inelastic, and unit elastic using the attached “Graphs for Elasticity of Demand, Total Revenue.”

The fact that price and quantity demanded are related negatively illustrates the a.law of supply.b.law of quantity supply.c.law of demand.d.law of quantity demanded.e.point that some facts are unobservable. ANS

You are an economist advising Holden Australia about increasing their total revenue. How would knowledge of elasticity help you to make the correct decision?

b. EXPLAIN how the total revenue test can be used to determine if a demand curve is elastic or inelastic. Use two graphs with numerical examples in your response. ( ____/5)

c. quantity demanded of a taxed good in response to a change in the tax rate

Heba Judeh Dr. Werner English 2238-001 1 December 2015 Sula: Gender in Relation to Race In a short novel of only one hundred and seventy pages, Toni Morrison’s Sula manages to span fifty years of a strange friendship between Nel Wright and Sula Peace. This novel is set in the early 1900s in a black community called the Bottom but was not published until 1973, right after the Civil Rights Movement.

2. Total revenue falls as the price of a good is raised, if the demand for the good is ( )

For example, the tax incidences will change based on both the elasticity of demand and supply. The consumer has to

9. If the demand for a good is perfectly price inelastic in the short run and the supply curve is upward sloping, imposing a sales tax on the good will

II. When price falls from 4 pounds to 3 pounds the demand for travel increases to 80,000 units- At the original market price of 4 pounds the demand for travel was 60,000 units generating revenue of 240,000 pounds. When the price is reduced to 3 pounds the resulting demand is 80,000 units and this also generates income of 240,000 pounds. When market price changes and the resulting revenue remains the same it can be said that price elasticity of demand is unitary in

Price elasticity of demand enables business organizations to predict how their total revenue will be effected in the event they change the prices of their products. When a given good has inelastic price elasticity of demand i.e. Ed 1, then the percentage change in the quantity demanded is greater that the change in price. Thus, raising the prices of such commodities results to decline in the total revenue because the business may loss customers to their competitors. Nonetheless, reducing the prices of goods with elastic elasticity of demand increases the total

c. Suppose the price is currently $2. Will this price result in a shortage or a surplus? How much is the shortage or

Describe what has occurred to change the demand for, or the supply of, the good or service, and market prices of those products or services

THE SEVEN COMMANDMENTS OF ANIMAL FARM. The seven commandments are the basic principles of Animalism worked out by the pigs and described as the originally “unchangeable laws” by which the animals were to obey and follow the rules and were to never to be broken. The seven commandments were written on the wall of where the barn was, by which where the animals day by day read were: Page: 43: 1.

Leadership is defined as an influence procedure that influenced employees and leaders to achieve the goals of the organizational by changing. Leadership also defined as the one who are planning, directing, or guiding someone or a group to mutual the goal. To become a good leadership, must be performance as an unselfish service and respectable personality to subordinate. Nowadays, there are few types of leadership which are common exist in work environment, such as laissez-faire, democratic, autocratic, transformational, transactional.