Post a New Question

Economics

posted by .

What is price elasticity?

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. Managerial Economics/Math

    This is an MBA-level Managerial Economics Course. I'm working on some HW and just want to double-check my answers. 1. Jimbo's is a new company producing exploding cigars. Jimbo's company has the following demand curve for the cigars: …
  2. Economics

    The Own price elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is -6. Determine how much the consumption of this good …
  3. Economics

    How is elasticity of supply related to elasticity of demand?
  4. 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. …
  5. economics

    If the demand for a good has unitary elasticity, or elasticity is −1, it is always true that an increase in its price will lead to more revenues for sellers taken as a whole.
  6. 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 …
  7. economics

    suppose the demand curve for a product is given by Q=10-2P+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 …
  8. 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 …
  9. Economics

    1.calculate the price elasticity of demand when the price was increased from R25 to R40 ?
  10. Economics

    Is price increase the correct decision to raise revenue?

More Similar Questions

Post a New Question