Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
In a recent study it has been estimated that the own price elasticity of demand for a special type of U.S. manufactured automobile tires is - .75, while the income elasticity of demand is 1.1 and the cross price elasticity of demand with respect to foreign imports is 1.4. The current sales volume for the U.S. manufactured tires is 5 million unites per year. It is anticipated that the price of the foreign imports will rise by 5%.
(a) Assuming that average income of the target group of customers will not change, calculate the number of tires that the tire manufacturers will be able to sell if they plan to increase their own price by 3%.
(b) According to newly released economic data It is now expected that over the next year the average income of the target group of consumers in the U.S. will grow by 4%. Calculate the amount (%) by which the U.S. tire manufacturers can adjust their price if they wish to increase their sales volume by 8.4% over the initial 5 million units. Assume the same increase in foreign tire prices as above.
How did political revolutions in the Atlantic Ocean basin affect or alter the institution of slavery and the lives of slaves? What were the long-term consequences of revolutionary ideologies for peoples of color?
If you have a perfectly competitive industry of 100 firms with a monthly demand curve of Q=1000-P and TC=Qi^2+100Q+100, a subsidy of $36/month, a long-run equilibrium (before subsidy) of P=140, Q=860 (each firm produces 5 units) and a long run equili..
Why are standards important for competition in the European market? Discuss examples (like telecommunication)! New members want to join the EU: Please name economic arguments to discuss if a further enlargement makes sense.
Please label the x and y axes, the supply & demand curves and the equilibrium points. You do not need to use any actual numbers. Then, analyze how the changes described in each case affect the equilibrium price and quantity of airline tickets for eac..
In the final analysis, do the advantages of having a code outweigh the prospects of not having one? Why?
Explain the 4 ways the Federal Reserve would increase the money Supply and explain and graph how this would impact interest rates, consumption, investment, AD, GDP, Prices and Unemployment. Calculate and graph (both the money and goods graph) what wo..
Suppose you have the following regression equation where PROD = output produced per month, LHR = labor hours paid per month, and QUAL = quality of raw materials purchased within the month, and T=trend variable: Prod = ß0 + ß1LHR + ß2QUAL + ß3T. If ß3..
David’s total variable cost function has been calculated to be TVC = 100Q + 30Q² - Q³, where Q is the number of units of output. When marginal cost is a minimum, what is the output level? When average variable cost is a minimum, what is the output le..
The amount of toothpaste in a tube is normally distributed with a mean of 6.5 ounces and an s.d. of 0.8 ounces. The cost of producing each tube is 50 cents. If in a quality control examination a tube is found to weigh less than 6 ounces, it is to be ..
Suppose real GDP is growing 3 percent, the money supply is growing at 10 percent, the velocity of money is constant, and the real interest rate is 5 percent. What is the current inflation rate and nominal interest rate?
1. Why can the distinction between fixed costs and variable costs be made in the short run? Classify the following as fixed or variable costs: advertising expenditures, fuel, interest on company-issued bonds, shipping charges, payments for raw mat..
The institution of payment according to one of eighty home health resource groups (HHRGs) limits the payments to a provider over a 60 day period. No matter how many times a provider visits a home during the 60 day period, the price remains at the HHR..
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd