Calculate the coefficient of price elasticity

Assignment Help Business Economics

Reference no: EM1360115

Q. Consider the following information about a business Diane opened last year: price = $4, quantity sold =10,000; implicit cost = $14,000; explicit cost = $20,000. What was Diane's economic profit?

Q. Suppose the price of apples goes up from $22 to $25 a box. In direct response, Goldsboro Farms supplies 1500 boxes of apples instead of 1000 boxes. Calculate the coefficient of price elasticity (midpoints approach) for Goldsboro's supply.

Reference no: EM1360115

Questions Cloud

Show fire prevention and juvenile fire starters : Fire Prevention and Juvenile Fire Starters - What are the four Variables That Affect Statistics (fire statistics) from country to country? Discuss and explain these statistics.

Find the maximum torque on the wire : Find out the maximum torque on the wire. A bullet of mass 5g is fired horizontally into a wooden block of mass 1.26kg resting on a horizontal surface. The coefficient of kinetic friction between block and surface is 0.16.

Disaster scenario planning : Natural and human made disasters such as hurricanes and workplace violence can disrupt business operations

A good cash management system : In the early 1980's, the prime interest rate hit a high of 21%. In 1995 the prime rate was considerably lower. That sharp interest rate decline has increased the company concerns about the efficiency of their cash management system.

Calculate the coefficient of price elasticity : Calculate the coefficient of price elasticity (midpoints approach) for Goldsboro's supply. What was Diane's economic profit.

Couples and family counseling : Need help with explaining how the family life cycle may be applied in couples and family counseling. Also, what are some examples of crisis situations in which a counselor might apply his or her understanding of the family life cycle?

Stock market uncertainty : The CEO of a bio-technology corporation is concerned about stock market uncertainty surrounding the potential of new drugs in the development pipeline.

Consent process and the informed refusal process : What is informed refusal? Compare the informed consent process and the informed refusal process.

How far is point horizontally from the end of the ramp : how far is this point horizontally from the end of the ramp. A skateboarder shoots off a ramp with a velocity of 6.2 m/s, directed at an angle of 61° above horizontal. The end of the ramp is 1.5 m above the ground.

User Account

All Pages