Managerial Economics
 👍 0
 👎 1
 👁 306
Respond to this Question
Similar Questions

Economics
1.calculate the price elasticity of demand when the price was increased from R25 to R40 ? (10) 2.is a price increase the correct decision to raise revenue?substantiate your answer using the price elasticity of demand and income
asked by Setumbo on March 31, 2016 
Economics  Cournot Model
There is one firm with a marginal cost of 0. It's monopoly price is 10. Another firm enters, also with zero marginal cost. Using the Cournot model, would would the new oligopoly price be? Can this question be answered without more
asked by Jennifer on January 26, 2007 
Statistics
A classic application of instrumental variables regression is estimating the elasticity of demand for a product. In our case, the product of interest is cigaretts. In economics, the elasticity of demand is the ratio of the
asked by Anonymous on May 14, 2019 
Economics
The demand function for two commodities A and B in a market are given as follows. QA=962PA3PB, QB=3025PA+0.32Y. Where PA and PB are prices of commodity A and B respectively, and Y is consumers average money income, given PA=#2,
asked by CUPSON on April 28, 2019 
Math  Limits/Derivatives
If a pricedemand equation is solved for p, then price is expressed as p = g(x) and x becomes the independent variable. In this case, it can be shown that the elasticity of demand is given by E(x) =  [g(x) / xg'(x)]. Use the
asked by Jess on October 19, 2013 
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
asked by Anonymous on March 11, 2012 
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
asked by Kiki on October 28, 2017 
HELP i dont get it
The producer of X is contemplating a price change and has asked for your advice. After some empirical investigation, you conclude that the price elasticity of demand for X is 0.75. Your advice to the producer is to Increase price
asked by john on November 1, 2010 
iqra
. 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 P = 7 and Y = 50. a. Interpret the equation. b. At a price of 7, what is price elasticity?
asked by Anonymous on March 19, 2017 
Economics
Hi, The demand for inflatable garden gnomes is given by P = 300 – 2Q, while the supply of is P= 100 + Q/2. How many garden gnomes are traded in equilibrium? I found the answer to be Q = 80. The related question was the one I had
asked by Candice on April 10, 2013