Assume price of local cable tv service increased from 1620

Assignment Help Microeconomics
Reference no: EM13392521

Suppose the price of local cable TV service increased from $16.20 to $19.80, and as a result, the number of cable subscribers decreased from 224,000 to 176,000. Use the Midpoint formula to find the answer. Along this portion of the demand curve, price elasticity of demand is?

Reference no: EM13392521

Questions Cloud

Which is the international standard for the quality : 1 an opportunity flow diagram would best fit in which dmaic category?2 which is the international standard for quality
The cost of concert ticket is 50 find the opportunity cost : tammie makes 150 a day as a bank clerk. she takes off two days of work without pay to fly to another city to attend the
There are three investment opportunities to consider the : risk amp return name scorethe following probability distribution of expected returns have been determined for benko
Why are budgets useful in the planning process a common : 1. why are budgets useful in the planning process2. a common starting point in the budgeting process is3.
Assume price of local cable tv service increased from 1620 : suppose the price of local cable tv service increased from 16.20 to 19.80 and as a result the number of cable
What can you say about the price elasticity of demand of : suppose the price of widgets falls from 7 to 5 and consumption of widgets rises from 15 widgets a month to 25 widgets.
By using the six sigma dmaic process make a new process : create an 8-10 slide ms powerpoint presentation with detailed speaker notes. include the followingidentify which iso
On january 1 2012 barwood corporation granted 5040 options : question 1 on january 1 2012 barwood corporation granted 5040 options to executives. each option entitles the holder to
What type of control focuses on measuring a companyrsquos : 1.what can enhance the value of web-based shopping experiences to serve as personal shopping assistants or web-site

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd