Respond to this Question
Similar Questions

Managerial Economics/Math
This is an MBAlevel Managerial Economics Course. I'm working on some HW and just want to doublecheck my answers. 1. Jimbo's is a new company producing exploding cigars. Jimbo's company has the following demand curve for the cigars: … 
Economics
The Own price elasticity of demand for good X is 2, its income elasticity is 3, its advertising elasticity is 4, and the crossprice elasticity of demand between it and good Y is 6. Determine how much the consumption of this good … 
Economics
How is elasticity of supply related to elasticity of demand? 
managerial economics
Explain the relationship between product X, product Y and product Z or the properties of each according to the following statements a. Cross price elasticity between X and Y is 4 b. Cross price elasticity between X and Y is 12 c. … 
managerial economics
4. The equation for a demand curve has been estimated to be Q = 100 – 10P + 0.5Y where Q is quantity, P is price, and Y is income. Assume that P = 7 and Y = 50. a. Interpret the equation. b. What is price elasticity at P = 7 and … 
economics
suppose the demand curve for a product is given by Q=102P+Ps1,where P is the price of the product and Ps is the price of a substitute good. the price of the substitute good is $2.00. a)suppose P=$1.00, what is the price elasticity … 
Economics
Very confused on how to figure these out. Suppose that the following table shows the weekly visits to an amusement park as a function of the daily admission fee charged: #visits daily fee 200 $50 400 $40 600 $30 800 $20 1000 $10 What … 
Economics
1.calculate the price elasticity of demand when the price was increased from R25 to R40 ? 
Economics
Is price increase the correct decision to raise revenue? 
Economics 201
Determine the price elasticity of demand for a microwave that experienced a 20% drop in price and a 50% increase in weekly demand quantity. I know I have to use the price elasticity of demand formula, but I keep getting the wrong answer. …