A firm believes the elasticity of demand it faces in its own country is -1.1 and in the other country is -1.5. Suppose the firm can charge $1 for its products in its own country and can prevent resales between these two countries. What price will it charge in the other country?

Baylor Lumber sold 10 ft. long corral gates at $299 per gate last month. They sold 20 gates. This month they raised the price to $349 per gate and sales dropped to 12 gates. What is the own-price elasticity of demand for 10 ft. corral gates at Baylor Lumber using the mid-pointformula? What does this say about the demand for corral gates?

PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 Demand 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Triple Sevens's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from LAX to LAS (Dollars per roundtrip) Room Rate at Exhilaration (Dollars per night) 350 150 50 250 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Triple Sevens is charging $350 per room per night. If average household income increases by 20%, from $50,000 to $60,000 per year, the quantity of rooms demanded at the Triple Sevens rooms per night. Therefore, the income elasticity of demand is from rooms per night to , meaning that hotel rooms at the Triple Sevens are If the price of an airline ticket from LAX to LAS were to increase by 20%, from $250 to $300 roundtrip, while all other demand factors…

What is the in-state and the out of state elasticity? Give your answer to two decimals.