Assume there are 200 million television sets in the US and one quarter are replaced annually. Also 5 million households are formed annually each on the average purchase 2 televisions. Calculate the market demand for TV sets. 10M 60M 80M 50M 100M

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Question 2 The following information reveals the market condition of shampoo: Price ($) / bottle Quantity demanded (No. of bottles) 50 1500 60 70 80 1300 1100 006 Use midpoint method to calculate the price elasticity of demand of shampoo if the price of shampoo per bottle decreases from $60 to $50. Show your workings and round your answer to 2 decimal places. Based on your answer, would you support the producers of the shampoo to decrease the price in this market? Explain with data support.

Suppose we estimate that the demand elasticity for fine leather jackets is .7 at their current prices. Then we know that:

Please no written by hand and no emage A bakery works out a demand function for its chocolate chip cookies and finds it to be q= D(X)=655-12x​, where is the quantity of cookies sold when the price per​ cookie, in​ cents, is x. Use this information to answer parts ​a) through ​f). Find the elasticity. ​E(x)= __ Part 2 ​b) At what price is the elasticity of demand equal to​ 1?    __¢ ​(Round to the nearest cent as​ needed.) Part 3 ​c) At what prices is the elasticity of demand​ elastic?   A. Greater than 27¢ B. Prices cannot be elastic in this case C. Less than 27¢ D. Prices are elastic at all values. Part 4 ​d) At what prices is the elasticity of demand​ inelastic? A. Less than 27¢ B. Prices are inelastic at all values C. Greater than 27¢ D. Prices cannot be inelastic in this case Part 5 ​e) At what price is the revenue a​ maximum? x= __ ¢ ​(Round to the nearest cent as needed. Use a comma to separate answers as​ needed.) Part 6 ​f) At a price of 22​¢ per​ cookie, will a small increase…

Hans is a butcher in Washington. The following contains data on prices and weekly sales at his shop Good Beef Chicken Price 9.00/lbs $4.00/lbs Quantity 400 lbs 300 lbs ShS He estimates that the own price elasticity for beef is 2 and for chicken is .75. He also estimates that the cross price elasticity for chicken is .60. His current revenue from the sale of these two goods is making a total of $4800/week. In the spirit of the return to good times and outdoor grilling, he has decided to lower the price of beef for the summer, from $9.00 to $8.55. Overall, Hans can expect to take in dollars in revenue, given the information in this problem? (Revenue = Price x sales). Record your answer without a dollar sign and without a comma. Helpful Hint: In this problem, we are not changing the price of chicken.

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Suppose that quantity demand rises by 10% as a result of a 5% decrease in price. The price elasticity of demand for this good is Give typed solution only

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