Suppose a movie theatre raises the price of popcorn 10 percent, but customers do not buy any less popcorn. What does this tell you about the price elasticity of demand? What will happen to total revenue of price increase?

Suppose that the price of a movie ticket changes 20 % and quantity demanded changes 49 %, With the given change in quantity demanded and price, what is the price elasticity of demand for movie ticket? (Enter a positive number) G

According to what you've learned about the price elasticity of demand, do you think that education in community colleges has an elastic or inelastic demand? Why? Explain your answer

Given the following demand schedule calculate the elasticity of demand between a price of $3 and $5 Price Quantity Demanded $4 1.00 7 2$ 3.00 5.00 24 7.00

Explain how each of the factors would or would not affect the price elasticity of demand for a good or service that your company (or a company for which you have an interest) produces?Help your classmates expand or re-focus on what they have observed.

Let’s say that the supply of high quality agave syrup goes up by around 10%, while, thanks to an incredible and ingenious marketing campaign, the demand for this high quality agave syrup has raised the price 20%. What is the elasticity of supply?

Explain the term price elasticity of demand? How is it measured? What factors influence market demand for products? If the price elasticity is -3 and USD200 is the marginal cost of product X, what should be the optimal sale price? (Hint: apply the mark-up rule)

If the price of product X increases from $10 to$12, the quantity demanded for gasoline (X) will fall from 100 to 82 and the quantity demanded for product Y also fall from 90 to 63 but the quantitydemanded for product Z will increases from 50 to76. a.What is price elasticity of demand for X?b.What is cross-price elasticity of demand for Ywith respect to price X? What are X and Y?c.What is cross-price elasticity of demand for Zwith respect to price X? What are X and Z?

When the price of A increase by 30%, the consumption of the good decreased by 10%, what is the price elastic of demand? Will the total revenue of selling the good increase or decrease when the price of good A increase? When the price of A increase by 10%, the consumption of the good B increases by 20%, what is the cross-price elasticity of demand of B with the change of price of A?

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