User Account

All Pages

Calculate the own price elasticity of demand

Assignment Help Macroeconomics
Reference no: EM131077217

SupposeQxd =10,000-2Px +3Py -4.5M,wherePx =$100,Py =$50,andM=$2,000.

  • Calculate the own price elasticity of demand and interpret your answer.
  • Calculate the cross price elasticity and interpret your answer.
  • Calculate the income elasticity and interpret your answer.

Reference no: EM131077217

Questions Cloud

Probability that a randomly selected game : What is the probability that a randomly selected game will last between 120 and 210 minutes?
Recent example of a merger announcement : Look at a recent example of a merger announcement, and log on to the website of the acquiring company. What reasons does the acquirer give for buying the target?
Problem regarding the demand and supply equations : Assume the following demand and supply equations: Qd = 1000 - 40P, and Qs = 400 + 20P. Calculate the intercepts and the slopes of the two curves.
Prepare a statement comparing the depreciation expense : Prepare a statement comparing the Depreciation Expense and Net Book Value per year under both methods - What is a stock split? Why would a company choose to split its stock?
Calculate the own price elasticity of demand : Calculate the own price elasticity of demand and interpret your answer. Calculate the cross price elasticity and interpret your answer. Calculate the income elasticity and interpret your answer.
Increase in gdp generated by margret activity : a. What was the increase in GDP generated by Margret's activity? b. What are her certain contributions to consumption, investment, and net exports? c. What is the value of production that was newly created by margret's productive activity?
What part of the assignment did you find most difficult : Explain your process for coming up with the functions that represent your object or event. Explain the point of reference you chose and why you chose it, how you measured or gathered the data you need, etc.
Implement the algorithm that you wrote in part c : Write an efficient algorithm for combining two arbitrary-sized heaps into one heap. What is the Big O performance of your algorithm?
Effect of changes in real-world competitive environment : Management in the team's organization has recognized the effect of changes in the real-world competitive environment and government policies on other industries and anticipates similar events occurring in their industry, so they ask you for a repo..

Reviews

Write a Review

Macroeconomics Questions & Answers

  Define biggest risk factors for multi-nationals enterprise

One of the biggest risk factors for multi-nationals enterprise (MNEs) is using the potential volatility of exchange rates. Explain mechanisms that can be used to alleviate the risk, including discussion of ways in which an MNE might increase profi..

  Short run profit maximization condition

Describe (in a sentence or two) the short run profit maximization condition when labour is the only variable input?

  Advising the newly formed russian government

Is there a way in which a plan could provide incentives to the Farm members that would have a good chance of raising productivity and lead to increased agricultural output while at the same time eliminating subsidies?

  Illustrate the income consumption curve

An individual consumes two goods, clothing and food.  Given the information below, illustrate the income consumption curve, and the Engel curves for clothing and food.

  How can we measure growth over the very long run

The poorest countries in the world have a per capita income of about $600 today. We can reasonably assume that it is nearly impossible to live on an income below half this level (below $300)

  Assignment on the evaluating access control methods

Imagine you are an Information Systems Security Specialist for a medium-sized federal government contractor. The Chief Security Officer (CSO) is worried that the organization's current methods of access control are no longer sufficient.

  Debate over the north american free trade agreement (nafta)

Ross Perot added his memorable “insight” to the debate over the North American Free Trade Agreement (NAFTA) when he warned that passage of NAFTA would create a “giant sucking sound” as U. S. employers shipped jobs to Mexico.

  Annual rate of depreciation

The book value of Factory Machine M is £580,000 at the end of year 1, and is £160,000 at the end of year 4. Calculate, for Factory Machine M, the:

  Illustrate what were some of the major contributing factors

Illustrate what were some of the major contributing factors and how did they combine to cause the recession. How were you affected by it.

  How foreign prices affect domestic prices

The theory of purchasing-power parity primarily explains 1. why a change in the real exchange rate changes a country's net exports. 2. why trade deficits tend to move to zero over time. 3. how foreign prices affect domestic prices. 4. the determinati..

  How the size of the labor force remains the same

initally, the number of tools per worker was higher in Hermes than in Gobbiedigook. From 2015 to 2065, capital per worker rises by one unit in each country. the one- unit change in capital per worker causes prodactivity in Hermes to rise by a amon..

  Explain why does a production possibilities curve bow

Explain why does a production possibilities curve bow out rather than forming a straight line sloping downward from left to right.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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