Calculate the price elasticity of demand when price

Assignment Help Business Economics
Reference no: EM13987095

The demand curve is: QD = 500 - 1/2 P.

Calculate the (point) price elasticity of demand when price is $100. Is demand elastic or inelastic?

Calculate the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic?

Find the point at which point elasticity is equal to -1.

Reference no: EM13987095

Questions Cloud

Short run where the government decreases the tax rate : Consider a small open economy in the short run where the government decreases the tax rate. What direction (+/-/or no change) does the tax decrease impact: Y, Money Demand, r, e, and C. You own a hat company which sells both domestically and abroad. ..
How imagery and hypnosis might change and combat the fear : The video What Fear Can Teach Us. From watching this video, how do you think imagery and hypnosis might change and combat the fear that athletes might have with regard to their performance
Output is the demand for the firms product price elastic : Mark's demand curve for the company's product is: At what output is the demand for the firm's product price elastic? If the firm wants to maximize its dollar sales volume, what price should it charge?
How far is block-bullet-spring compressed : A bullet, 0.100 kg, traveling at 85.0 m/s strikes a wood block, 2.25 kg. A spring, spring constant 3.25 N/m, is attached behind the block. If we ignore friction, How far is block/bullet/spring compressed? (assume the bullet lodges in the block.)
Calculate the price elasticity of demand when price : Calculate the (point) price elasticity of demand when price is $100. Is demand elastic or inelastic? Calculate the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic?
Find the speed of the block just after the collision : A bullet is fired at a wooden block which is at rest on a table. The bullet hits and embeds itself in the block. The mass of the bullet and the block are 0.2kg and 2.8kg respectively. Assuming there is no friction between the wooden block and the..
What is felicia perceived susceptibility to diabetes : What is Felicia's perceived susceptibility to diabetes? What factors (emotional and perceived impact on lifestyle) do you think are likely to be influencing Felicia's perceived severity of the illness
What is the initial demand for loanable funds-investment : Money Demand =8750-500i Loanable Funds Demand = 2000 –100i Initial Reserves: $500 Y1=15600 Y2=14000 Reserve Ratio: 8% MPC=0.8 Tax Revenue: $1100 Govt Purchases: $1000 Suppose the Government is implementing fiscal policy. What is the new level of Gove..
How far will the combined bullet and block move : A bullet of mass 20.0g is fired at an intital velocity of 200m/s into a 15.0 kg block that is intitally at rest. The combined bullet and block move over a rough surface of coeffcient at kinetic friction of 0.500. How far will the combined bullet ..

Reviews

Write a Review

Business Economics Questions & Answers

  Important expenditure programs of the federal government

List the three most important expenditure programs of the federal government. How do these differ from the three most important expenditure programs of state and local governments? Explain why it makes more sense for the federal government to purchas..

  The text defines an economic system

Privatization in transition economies is often justified on the grounds of increasing. The text defines an economic system as. Which of the following legal forms of business organization provides for limited liability?

  Set of statements contains common errors.

The following set of statements contains common errors. Identify and explain each error. Demand increases, causing prices to rise. Higher prices cause demand to fall. Therefore prices fall back to their original levels. The supply of meat in Russia i..

  Fewer also fewer barriers to trade

With fewer also fewer barriers to trade, countries are able to focus on producing those goods also services which they are best.

  Sweezy oligopoly and cournot oligopoly

Their banks are holding back credit so it is harder for businesses to invest and for consumers to spend

  Analyze the role of credit rationing

Analyze the role of credit rationing in both a developed country and a less-developed country. How does the role of credit rationing influence economic growth and employment in these two countries?

  External costs with variable technology

(External Costs with Variable Technology) Think of an industry that pollutes water and has access to variable technology for reducing that pollution. Graphically illustrate and explain the impact of each of the following, other things constant, on th..

  Insurance increases and the price of steel decreases

What will happen to the equilibrium price and quantity of new cars if, simultaneously, the price of automobile insurance (a complement) increases and the price of steel decreases

  Because of unusually good growing conditions

"Because of unusually good growing conditions, the supply of strawberries has substantially increased." This statement indicates that:

  Selling monopoly charges

Prices the selling monopoly charges for TV sets in periods 1 and 2.

  Eonomics for business structure of the essayintroduction

structure of the essayintroduction which topic 300 wordsbody- discuss the topic from your secondary research with

  Definition of strict convexity to show that trang prefers

Trang has strictly convex indifference curves and is indifferent between the bundles (16, 2) and (2, 4) Use the definition of strict convexity to show that Trang prefers (9, 3) to (2, 4).

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