Please answer the following, a diagram and one paragraph should help support your answer.  With consideration for elasticity (especially PED), what would be one industry in which the government instituting a subsidy would make sense and why? EXAMPLE: It would make sense for the government to subsidize the fashion industry because it is generally elastic in terms of PED, and it would benefit both producers and consumers due to etc

In an effort to curb gun violence, some US cities are implementing gun buyback programs. Localpolice departments will buy back guns from the public, no questions asked. For such programs to beeffective, what must be true about the elasticity of demand and supply? Explain your reasoning withdemand-supply diagrams.

Refer to the table. Over the $25-$30 price range, the elasticity coefficient of supply is Quantity Supplied $ 35 36 30 24 25 16 20 12 15 10 Group of answer choices 1. zero. less than 1. greater than 1.

You are working trying to estimate the proper price to charge a market for the firm that sells beer in Lancaster Pennsylvania. They estimated that the demand curve for the market is Quantity demanded=20-2P. The firm currently prices the good at 8 dollars. They want to move the price to 6 dollars in a attempt to increase profits. 1) What is the elasticity for this move in price (Use the midpoint method for elasticity) make sure you show your work?  2) Now you are contacted by a different branch of this company that is in a lower priced (Scranton P.A.) market with the same demand curve. They want to move the price from 2 to 5 dollars. What is the elasticity of this change (Use the midpoint method)? 3) Now suppose you find out that there is a similar product that impacts the Quantity demanded for a product. The relationship is Qd=15+Pb. Now suppose the price (Pb) of the other good is 5 and goes to 6. What is the Cross-price elasticity of the good?

Describe the different types of elasticity of supply and provide an example of each.

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why do you think brand-named goods are more elastic or less elastic than categories, especially when there are very good substitutes for Exxon gasoline available at close distances?

If you had been hired to advise your local public transit authority on how they could raise transitrevenues and you knew the elasticity of demand for transit rides, you would be able to give a goodanswer.Explain why above statements is True, False, or Uncertain according to economic principles. Use diagrams where appropriate.

Please answer the following. A diagram and one paragraph should help to support your answer.  Question: With consideration for elasticity (especially PED), what would be one industry in which the government instituting a subsidy would make sense and why?

A town of 2,000 households constitutes a market for eggs. Current sales are 2400 dozen eggs per week at a price of $1.25 per dozen. 1200 households living on the west side of the river buy1600 dozen eggs and their elasticity of demand is -1.5. The remaining households live on the east side of the river, buy the rest of the eggs and have an elasticity of demand of -3. Calculate the elasticity of market demand curve for the town as a whole.