Calculate price elasticity of demand for tlc service

Assignment Help Macroeconomics

Reference no: EM13181945

TLC Lawn Care, Inc. provides fertilizer and weed control services to residential customers. Its seasonal services package, regularly priced at $250, includes several chemical spray treatments. As part of an effort to expand its customer base, TLC offered $50 off its regular price to customers in Lahania area. Customer response was enthusiastic, with sales rising to 5,750 units from the 3,250 units sold in the same period the previous month

1. Calculate price elasticity of demand for TLC service. p =?

2. Calculate the optimal price for TLC service if marginal cost is $135. P =?

Reference no: EM13181945

Questions Cloud

Find out the empirical formula and draw a possible structure : Determine the empirical formula and draw a possible structure for an organic compound with the elemental composition

What level would price have to be lowered : Calculate the implied arc income elasticity of demand. I =? Given a price elasticity coefficient of -2.5, to what level would price have to be lowered to maintain there sales at a level of 28 million square yards. New Price =?

State maintain a more consistent matrix in a solution : To keep ionic strength constant and maintain a more consistent matrix in a solution where ions could be influencing each other, another component is often added to the solution

Explain what is the volume of the air in the balloon : ideal gas on a cool morning (11*C). The air is heated to 103*C. What is the volume of the air in the balloon after it is heated?

Calculate price elasticity of demand for tlc service : TLC Lawn Care, Inc. provides fertilizer and weed control services to residential customers. Its seasonal services package, regularly priced at $250, includes several chemical spray treatments. As part of an effort to expand its customer base, TLC..

Explain what mass of ethanol is present in the vapor : What mass of ethanol is present in the vapor? (the vapor pressure of ethanol is 10.0 torr at -2.3 degrees C and 40.0 torr at 19 degrees

State hydrogen peroxide decomposes into water : Hydrogen peroxide decomposes into water and oxygen in a first order process. At 20 degrees C, the half life for the reaction is 3.92 x 10^4 seconds

How long will you need to culture the cells : You are cultivating a strain of E. coli for research and inoculate a flask of rich media with 50 cells. Assuming an exponential growth rate of 2.5 cells/hour and that you need 1,000,000 cells for your analysis, how long will you need to culture t..

Equilibrium at temperature in a flask : flask and allowed to reach equilibrium at a given temperature, what is the final concentration of cl2 In the flask?

User Account

All Pages