Your overall revenues will change by $_______ million.

Online the timing and tailoring of prices to specific products is the key to successful pricing in online markets. And " Thanks to the ready availability of data in online markets, a pricing manager can easily approximate the elasticity of demands for the different products it sells online." Assuming a 10 percent decrease in price increases sales by 30 percent, calculate the price elasticity of demand? If the wholesale price of the online product is $50 and sells at a price comparison site that charges $0.50 per click and boasts a conversation rate of 5 percent ( an average of 20 percent clicks are needed to generate sale), the incremental cost of each sale is $50. What price should you change for the product? What is the markup? B) . The authors assert that price sensitivity is affected by (1) product cycle, and (2) number of competitors. In fact, " When the number of competing sellers doubles, a firm's elasticity of demand is expected to double ( you should be able to verify this…

P1= $4.50        Q1= 45 P2= $5.00        Q2= 40 a) what is price elasticity of demand  b) given the price elasticity of demand coefficient you have calculated. What would happen to the quantity demanded in percentage terms if the price increased by 10% in this range ? c) what would be the effect of the price increase above on total revenue? Explain.

Consider the market for a new DVD​ movie, where the price is initially $8 and 44 copies are sold per day at a​ superstore, as indicated in the figure to the right. The superstore is considering lowering the price to ​$4. ] What is the price elasticity of demand between these two prices (use the Midpoint Formula​)? The price elasticity of demand is nothing. (Enter your response as a real number rounded to two decimal​ places.)

You own a company selling wristwatches. This is its inverse demand equation: Q = 10 - (P/ 60) Part A: Suppose the current market price is $120 per watch. The pandemic has caused major supply shortages and the price is expected to rise to $300 per watch next month. Calculate the price elasticity of demand for this expected change in price (from $120 to $300). Show your steps. Part B: Your store manager has informed you that revenue from the next month would not be maximized with this expected price of $300. Should you agree with your manager or not? i.e. would it make more sense to raise price beyond $300 per watch in order to increase revenues further? Provide a detailed reasoning.

How does the price elasticity of demand for the iPhone compare to the price elasticity of demand for cell phones as a broader category? Analyze the factors that might influence the elasticity for each, such as the availability of substitutes, degree of necessity, and brand loyalty. We encourage you to express your unique perspective and ideas in a brief, concise format, ideally within one or two paragraphs. Don't worry about finding the 'correct' answer; instead, focus on how you can apply the concepts of microeconomics to analyze and understand everyday situations. Your individual reasoning and interpretation are what we're most interested in exploring.

You sell two different goods: printers and toner cartridges. The price elasticity of demand for the printers is -3.4, and you earn a revenue of RM15,000 per month from the good. You earn a revenue of RM5,000 per month from the toner cartridges. The cross price elasticity of demand for both of the goods is -2.5. If you decide to decrease the price of the printers by 5%, calculate your new total revenues for both of the goods. [Anda menjual dua barang berbeza: pencetak dan kartrij toner. Keanjalan harga permintaan untuk pencetak adalah -3.4, dan anda memperoleh jumlah hasil sebanyak RM15,000 sebulan memperoleh jumlah hasil RM5,000 sebulan untuk kartrij toner. Keanjalan permintaan silang bagi kedua-dua barang adalah -2.5. Sekiranya anda membuat keputusan untuk menurunkan harga pencetak sebanyak 5%, hitung jumlah hasil baharu anda untuk kedua-dua barang tersebut.] (c) untuk barang tersebut. Anda

Required information You are the manager of a firm that receives revenues of $20,000 per year from product X and $80,000 per year from product Y. The own price elasticity of demand for product X is −3 and the cross-price elasticity of demand between products Y and X is −1.6. Suppose you increase the price of good X by 2 percent.   Assume that the information about product X and product Y from the problem changed to the following:   Revenues per year from product X $ 15,000 Revenues per year from product Y $ 80,000 Own price elasticity of demand for product X   −3 Cross-price elasticity of demand between products X and Y   −1.4 Price increase of product X (percent)   3     Instruction: Update the data in your spreadsheet to the values above and enter the recomputed answer for the original question. Required: How much will your firm’s total revenues (revenues from both products) change? Change in revenues: ____________________

Suppose at the current price, the price elasticity of demand for a firm's product is ε = -1/2. Which of the following is true: A 2% change in the price would be expected to impact quantity demanded by 1% If the price of the product increases, quantity demanded will fall If the firm raises it's price, revenues will increase. All of the above

You are the manager of a firm that receives revenues of $60,000 per year from product X and $80,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross- price elasticity of demand between product Yand X is -1.4. How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent? Instructions: Enter your response rounded to the nearest dollar. Use a negative sign (-) if applicable. %24