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?

Explain three determinants of price elasticity of demand.

Because of a typhoon in the city, the price of cabbages rose from P60.00 to P80.00, and the quantitydemanded falls from 150 kilos to 100 kilos.a. Compute for the price elasticity for this price range. b. What is the interpretation of this price elasticity of demand? c. What happens to the total revenue of sellers when the price of cabbages increases?

Round up the answers to the nearest hundredths. Suppose that business travelers and vacationers have the following demand for airlinetickets from Japan to Philippines.   Price in (US Dollars $) Quantity Demanded for Tickets (Business Travelers) Quantity Demanded for Tickets (Vacationers) 150 2,100 1,000 200 2,000 800 250 1,900 600 300 1,800 400 a. As the price of tickets rises from $200 to $250, what is the price elasticityofdemand for:(i) business travelers? (ii) vacationers?b. Why might vacationers have a different elasticity from business travelers?

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 good is lowered from £350 to £200 the quantity demanded increasesfrom 600 to 750 units. Calculate elasticity of demand.

Explain why elasticity of demand is measured in percentages.

What are the determinants that affect the price elasticity of demand?

Discuss how the demand elasticity of a product changes? Give examples.

Using the midpoint method, the price elasticity of demand for a good is computed to be approximately 0.55. Which of the following events is consistent with a 20 percent decrease in the quantity of the good demanded? a. An increase of 11.0 percent in the price of the good b. an increase of 36.36 percent in the price of the good c. An increase in the price of the good from $11.00 to $20.00 d. an Increase in the price of the good from $20 to $31.00