Initial values are: This function is: PM $20000 PG = $1.00 I = $15000 A = $1000 QT = 200-.01PT +.005PM -10PG +.011 +.003A 1.(a). Use the above to calculate the arc price elasticity of demand between PT = $20000 de P₁ + P₂ The arc elasticity formula is:Ep AQ ΔΡ Q₁ +22 (b). Judging from the computation in (la), do you expect the revenue resulting from the p increase, remain the same, or decrease relative to the revenue at the price of $20000? (Hint: Truett). Explain your choice. 2.(a) Calculate the point price elasticity of demand for Toyotas at PT= $20000 (which shoul variables and their values are given at the top, before question #1. The formula is: aQT PT Ep OPT QT (b). Does this elasticity indicate that Toyota demand is relatively responsive to changes in T why not. 3.(a). Calculate the point gasoline cross-price elasticity between (PG) and Toyota demand (Q gasoline is PG = $1.00. Use Pr = 20000 (which should make Qr=270). Other variable at the top, before question #1. The formula is: дот PG ETG OPG QT (b). Does this elasticity indicate that the demand for Toyotas is relatively responsive to chan (PG)? Explain why or why not. 4.(a). Competition might be a worry for Toyota. PM = the price of Mazadas. Calculate the p elasticity of demand with PM = $20000 and PT = $20000 (which should make Qr = 270 at the top before question #1. The formula is: Етм JOT Pm dPm LT (b). Does this elasticity indicate that the demand for Toyotas is relatively responsive to chan

Q1: KSU Products has just carried out a survey of the demand for their guidebooks to spoken Arabic. They have found the following results over the last six months. Sales revenue 356 398 372 360 365 350 Price ($) 4.5 4.0 4.2 4.5 4.3 4.8 a. Estimate an appropriate demand relationship; Q=apb b. Make a forecast of sales revenue for a price of $5, stating any assumptions. c. Éstimate the price elasticity of demand for the data as a whole. d. If price is raised 10 per cent in general terms, what will happen to revenue?

An estimate of the demand function for household furniture produced the following results: F = 0.0036 Y¹.08 R0.16 p(-0.48) where F = furniture expenditures per household Y = disposable personal income per household R = value of private residential construction per household P = ratio of the furniture price index to the consumer price index The point price elasticity for household furniture is r² = 0.996 and the income elasticity is According to the estimated model, a 10 percent increase in the value of private residential construction per household demanded by percent. the quantity

Your marketing research department provides the following estimated demand function for your product: Qd=500.6-11.4P-0.2INCOME where P is the price of your product and INCOME is average income. Your product is good because If the standard error for the price coefficient is 2.0, its t-statistic will be Therefore, the coefficient is (Round your answer to two decimal places)

Price Per KM(S) 0.9 0.8 0.7 0.6 0.5- 0.4 0.3 0.2 0.1 T U V W KM DRIVEN (000s KM) PLEASE COMPLETE TABLE BELOW ONLY USING ABOVE INFORMATION T = 29,000 KM U = 36,000 KM 80 V = 44,000 KM W=47,000 KM What is the TFC at V? 19000 What is the AFC at V (2 Decimals)? 0.43 If AVC is 0.35 at V, what is the TVC? 15400 What is the BREAKEVEN Quantity (PUT LETTER)? What is the SHUTDOWN Quantity (PUT LETTER)? ATC at T is: $0.75/KM TC at U is: $25920 Find the Marginal Cost between T and U (Answer to 2 Decimals and always positive)?$ 6.92 If Price of an UBER RIDE is $0.7/KM: What is the number of KMS Driven by Jim? KM What is the total Revenue at this point? $ ☐ What is the total Cost at this point if AVC is $0.35 per KM? $ What is the Profit/Loss at this point? $