It's the year 2023 and you are the manager at a local brew pub here in Fayetteville. You are one of many local breweries in town; there customers have many options of where to spend their beer money. You want to increase revenue and decide to raise the price of a pint The table below shows the sales of beer from week 1 and sales in week 2 after you raised price. Table 1. Sales Data for Weeks 1 and 2 Week Week 1 Week 2 Price ($ per pint) $6.00 $8.00 Sales (Pints) 2,500 1,100 Using the information in the above table, what was the change in total revenue from week 1 to week 2 when you changed your price? answer without a dollar sign and indicate a decrease in revenue, if applicable, by including a negative (-) sign)

ЕОC 6.03 A 45% fall in the price of computers leads to a 20% rise in the amount of computers purchased by customers. Using this information, we would expect total revenue to when prices drop. Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer. decrease increase not change d increase or decrease (not enough information)

I need help with 5 and 8

Question 17     Kevin’s goal as a business manager is to increase total sales in dollar terms for his business. Should he raise or lower his prices?   a raise prices if demand is elastic; lower prices if demand is inelastic b lower prices if demand is elastic; raise  prices if demand is inelastic c raise prices regardless of whether demand is elastic or inelastic. d lower prices regardless of whether demand is elastic or inelastic.

samsung reported a staggering 20 percent drop in sales of it's flagship smartphone,the Galaxy S5, for the last three months. Profits declined even more - a 49 percent collapse from last year. The reason for this collapse: Apple's introduction of it's large- screen Iphone 6 and price cuts on the IPhone 5. Apple dropped the price of the 16GB IPhone 5s from $199 to $99 and the 8GB IPhone 5s from $99 to a cool $0, with contract.   By changing the denominator in each case, compute the percentage change in the 16GB IPhone 5s price, as computed from (a) The initial price (b) The final price (c) The average price

Using the midpoint formula and the graph below, calculate the following:i. The price elasticity of demand when the price changes from 9 to 15; andii. The price elasticity of supply when the price changes from $4 to $9

Question 4 (A) Explain the factors that affect the price elasticity of demand for a product.

2. Imagine that you run a small bakery. In March the price of a cupcake was $2, and you sold 50 per day. In April you increased the price of cupcakes to $3 and you sold 40 per day. 1. Did your revenue increase or decrease? 2. What was the price elasticity of demand to Cupcakes when price increased from $2 to $3. 3. Do you think demand was elastic or inelastic prior to the change in prices

(Figure: Demand Curves) The figure shows four different demand curves for four products: A, B, C and D. Which of the products has the most elastic demand curve? Price Demand Price Price Price LEAR Demand Demand Demand Quantity Quantity Quantity Quantity O product C product B product D Oproduct A

(i) InfoConsider the three demand functions in the file Elasticity. Calculate the elasticities of these three demand functions when the price of the product increases from P = $200 per unit to P = $400 per unit. Enter the elasticities as positive numbers.   Elasticity of the red demand function =   Elasticity of the green demand function =   Elasticity of the blue demand function =..