The table below depicts the demand for sunscreen at Daytona Beach. Demand for Sunscreen Price (dollars) $20.00 18.00 16.00 14.00 12.00 10.00 8.00 6.00 4.00 Quantity (bottles) Total Revenue (dollars) $ 0 800 2,800 4,800 6,800 8,800 10,800 12,800 14,800 Instructions: Enter your answer as a whole number. If you are entering a negative number include a minus sign. a. Fill in the total revenue column. b. When the price of a bottle of sunscreen decreases from $18.00 a bottle to $16.00 a bottle, what is the change in total revenue? $ c. When the price of a bottle of sunscreen decreases from $14.00 a bottle to $10.00 a bottle, what is the change in total revenue?

The following table displays data about demand for smart phones.  Points P Q A 6060 3,0003,000 B 7070 2,8002,800 C 8080 2,6002,600 D 9090 2,4002,400 E 100100 2,2002,200 F 110110 2,0002,000 G 120120 1,8001,800 H 130130 1,6001,600   Step 1 of 2 :   Using the midpoint method, calculate the price elasticity of demand from Point F to Point G. If necessary, round all intermediate calculations and your final answer to two decimal places.

Refer to the figure below. If Mallory and Rick are the only two consumers in this market and the price of soda is $0.75 per can, then what will be the market demand for soda each month? Mallory's Demand for Sodal Rick's Demand for Soda Price ($/can) 1.50 1.25 1.00 0.75 0.50 0.25 0 0 10 20 30 40 50 60 70 Quantity (cans of soda/month) rev: 02_01_2018_QC_CS-116371 O 70 50 O 30 O 20 Price ($/can) 1.50 1.25 1.00 0.75 0.50 0.25 0 0 10 20 30 40 50 60 70 Quantity (cans of soda/month)

Practice #6   Francine is a a dental floss tycoon living in Montana.  She faces the following demand curve for her product:  Price ( in $/unit)          Quantity demanded  2.50                            1000  2.20                            2000  1.90                            3000  1.60                            4000  1.30                            5000  1.00                            6000   .70                             7000   .40                             8000  Francine has been told by her brother, who is currently taking a marketing class, that if she lowers her price by one increment(for example; changing price from .70 to .40, she will capture market share and increase total revenue.  All of her advisors within the company have assured Francine that her brother's advice may be correct, BUT the above demand curve will not change.  Assume that Francine knows the above demand curve will not change and is also considering her brother's advice.  The prices can only change in…

Define the elasticity of demand and illustrate how it works by giving 2 plausible examples from tourism industry. In addition, briefly answer the following question: Why are elasticities important for strategic decisions even though they are difficult to estimate? Why are elasticities typically not identical for different price and/or income levels?

When a certain brand of dog food sells for $20 per bag, 10,000 units are sold; when the price changes to $22, 7000 units are sold. Calculate price elasticity of demand for the dog food, carefully folowing all numeric instructions. Enter only numbers, a decimal point, and/or a negative sign as needed. Round your answer to two decimal places as necessary; if you round on intermediate steps, use four places.

In order to combat inflation, the Fed will ________ the federal funds rate thereby ________ the quantity of money. a. raise; increase b. lower; increase c. raise; decrease d. lower; decrease

How would you expect the elasticity of demand for each of the following products to compare with the price elasticity of demand for standard car tires? Explain your answer. a. Snow tires (not necessary, but handy on snowy days) b. School bus tires (purchased with tax dollars on a fixed schedule) c. Bicycle tires (which require a smaller portion of a consumer's income than car tires) d. Tires made by the most reputable company (more of a luxury than a necessity)

A corporation issues a two-year bond with a coupon of $50and a face value of $1,000. A year later, market interest rates have declined to 3%. What is the price of the bond a year after it was issued? Select one: a)$1,000.00 b)$1,025.00 c)$1,019.42 d)$1,038.27

Following your review of elasticity, will the elasticity of demand for Nissan sedans increase, decrease, or remain the same when each of the following events occurs? Explain your answer. Other car manufacturers, such as Honda, decide to make and sell sedans.   Sedans produced in foreign countries are banned from the European market. Following increased advertisements, Americans believe that sedans are less safe than ordinary passenger cars. In the long run, new sedan models are produced.   Jordan usually pays a price between $14 and $20 per kilogram of sugar. His monthly total expenditure on sugar increases as the price decreases. What does this imply about her price elasticity of demand for sugar?   Using the table below calculate the cross price elasticity skirts. Are these goods substitute or complement? Briefly explain. Price of Sandals Price of Skirts Quantity demanded of Sandals Quantity demanded of Skirts $5 $4 60 100 $4 $2 80 71