Find the demand equation using the given information. (Let x be the number of items.) A company finds that it can sell 120 items at a price of $120 each and sell 160 items at a price of $100 each.

Price (dollars) 8 7 D. 5 10 15 20 25 30 35 Quantity (units per year) In the figure above, when the price falls from $8 to $7, total revenue A) decreases from $210 to $120 so demand is inelastic. B) increases from $120 to $210 so demand is inelastic. C) decreases from $210 to $120 so demand is elastic. D) increases from $120 to $210 so demand is elastic. 6

Ursula's utility function is In(x) + 6y, her income is 12, and both prices are 1. (a) What is her demand for x? (b) What is her own-price elasticity for x? (c) What is her income elasticity for x?

When the price of a certain product was considered to be "low", consumers spent $5 million monthly on it.  After the price doubled, the total consumer expenditures increased to $7 million. Recently you read that this means that the demand curve for this product is upward sloping. Do you agree? Explain.

Solve full question please

If the demand functions are determined as follows : (In the picture) Find : B. Draw the graph

4) Firm A sells products x and z; the first, at a price of $ 30, sells 200 units and the well z manages to sell 400 units. To increase his sales, he decides to lower the price from x to $ 20, but this variation produces a decrease in the sale of z to 80 units: a) Calculate the cross elasticity b) What kinds of goods are x and z between them? Explain why. c) Give 2 examples of these types of goods.

In 1998, five companies were found guilty because of their actions to raise the price of an animal feed additive, lysine, by limiting its supply. Explain why they would engage such a practice with the use of a graph. Assume that the demand for lysine is inelastic in the short term.

Suppose the own price elasticity of demand for good X is −2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is −6. Determine how much the consumption of this good will change if:Instructions: Enter your responses as percentages. If you are entering a negative number, be sure to use a (−) sign.a. The price of good X decreases by 5 percent. percentb. The price of good Y increases by 10 percent. percentc. Advertising decreases by 2 percent. percentd. Income increases by 3 percent.  percent

43) Suppose we observe a large increase in the price of corn but the quantity of corn sold stays the same. What is the most plausible explanation (or combination of explanations) below? a) A drought occurred in corn-growing regions. b) A drought occurred in corn-growing regions and a medical report was issued that corn is good for your health. c) A drought occurred in corn-growing regions and a medical report was issued that corn is bad for your health. d) A few fertilizer was invented that doubles corn yields. e) A new fertilizer was invented that doubles corn yields and a medical report was issued that corn is bad for your health. 44) Suppose we observe that the price of paper has increased and the quantity of paper sold has decreased. What is the most plausible explanation? a) Consumers demand less paper because of increased use of the Internet. b) The price of pens and pencils increased dramatically. c) The number of children in schools decreased dramatically. d) More logging for…