sell as much water as they want at no cost. For them, total revenue equals Price Quantity Demanded Total Revenue (Dollars per gallon) (Gallons of water) (Dollars) 3.60 3.30 35 $115.50 3.00 70 $210.00 2.70 105 $283.50 2.40 140 $336.00 2.10 175 $367.50 1.80 210 $378.00

For distract driving

Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

2. PR sells phones for £400 and has observed a recent drop in sales from 1,500 units a month, reducing its revenue by £120,000. This has occurred because a competitor has just reduced its price by 20%. PR wants to restore its sales volume to its previous level, and has estimated its price and cross elasticities at -1.4 and 0.8 respectively. The phones have a marginal cost of £280. a) Calculate the sales level of PR after the reduction in the competitor's price, assuming PR maintains its price. b) Calculate the necessary price for PR to charge to achieve its objective, assuming the competitor's price reduction. c) Calculate the effects of the decisions in a) and b) above on profit compared with the original profit before the drop in sales. Which is the better decision?

Please calculate the price elasticity of supply for a book when: Quantity of supply increases from 100 to 120 and price fallsfrom 10 to 8.a) 5b) 0c) 3d) 1

(a) Consider a firm that is particularly interested in estimates of elasticities. It discovers that its cross-price elasticity of demand between good A, which it sells and good B, which another firm sells is +5.3. Its price elasticity of demand for good A is estimated as -2.5 and its income elasticity of demand is +2.5, while the price elasticity of supply is +0.3. Comment on the implication of these figures for the firm. Discuss the information that this provides to the firm and how it can use this to develop its product, pricing and overall strategy.

Derive the following with complete solution Price elasticity of demand:a. from a to bb. from e to f

Take care of plagiarism.   1.A 10% increase in price that leads to a 12% decrease in the amount purchased indicates a price elasticity of more than 1 (in absolute value). True False   2. A 10% increase in price that leads to a 2% decrease in total expenditures (or total revenue) indicates a price elasticity of more than 1 (in absolute value). True False   3. If the percentage change in price is less than the resultant percentage change in quantity demanded, demand is__________ .(elastic/inelastic/unit elastic)

QD ($) 16 3,000 2,800 20 18 2,600 2,400 2,200 2,000 22 24 26 28 1,800 30 1,600 Above is the demand schedule for tickets to a Carnegie Hall performance of the Grateful Dead. Carnegie Hall seats 2,200 people. What is the equilibrium price and quantity for a concert of the Grateful Dead at Carnegie Hall? If tickets were sold for $18, what would happen (be

Please no written by hand the demand function for a manufacturer's product is p = f(g) = - 0.20g + 500, where p is the price (in dollars) per unit when q units are demanded (per day). Find the level of production that maximizes the manufacturer's total revenue and determine this revenue. what quantity will maximize the revenue. q = blank units