Calculate the price elasticity of the game

Assignment Help Microeconomics
Reference no: EM133564470

Assignment:

When DSU increased men's basketball ticket price from 15 to 18, the sales of individual tickets dropped from 680 to 628 in the next game. (1) please calculate the price elasticity (PED) of the game. (2) please calculate the total revenue change after the price increase.

Reference no: EM133564470

Questions Cloud

Elements of those changes that relate to growth : Discuss some of the factors and elements of those changes that relate to growth and sustainability of these vital industries to Hawaii's economy.
Why was this classical free trade theory : Why was this Classical Free Trade theory(Smith, 1776) considered revolutionary at the time it was adopted in the context of the practice of "Mercantilism"?
What is the opportunity cost of apples in terms of bananas : What is the opportunity cost of apples in terms of bananas? In the absence of trade, what would be the price of apples in terms of bananas? Why?
How much is his contract worth per? game : Suppose that a certain athlete signed a? 10-year contract? that, if fully? completed, will pay him a total of ?$486 million.
Calculate the price elasticity of the game : Please calculate the price elasticity (PED) of the game. (2) please calculate the total revenue change after the price increase.
Describe the existence of a negative production externality : In the context of energy supply, describe how the existence of a negative production externality may lead to a socially inefficient outcome.
Why sophos mdr is different from others in the market today : What is the key reason why Sophos MDR is different from others in the market today?
What is that households actual income : What is that household's actual income including all forms of government assistance (Section 8, SNAP, EITC, Medicaid)?
Estimate number of business operating in sector globally : Give me a rough estimate of the number of business operating in the sector globally and provide statistics, graphs.

Reviews

Write a Review

Microeconomics Questions & Answers

  What is organizational justice

In order to gain some work experience and increase her marketability, she has accepted a summer internship in the finance department at a pharmaceutical company

  Explain the traditional sector enrichment

Explain the difference between the size distribution of income and the functional distribution of income.

  Mutual interdependence in oligopolies

Describe the meaning of the term "mutual interdependence" as it applies to oligopolies. Provide an example.

  The financial budgets include

The financial budgets include the:

  The federal government were to levy a national property tax

4) Suppose the federal government were to levy a national property tax on all housing in the United States. Assume that all households are renters, are perfectly mobile, and have homogenous tastes.a) Assuming the money raised by the property tax is w..

  Prices and profits in monopoly

What is the maximum dollar amount your firm would be willing to pay in royalty fees to the Village Council every year for the monopoly right to sell gasoline in Fanjeaux?

  Nominal interest rates according to the fisher effect

If expected inflation declines by 2%, what should happen to nominal interest rates according to the Fisher effect? (Points : 1)rise by 2%fall by 2%be cut in halfdouble in size

  The neo-classical model of aggregate supply

In the neo-classical model of aggregate supply, assume that the economy starts in a recession.  On separate graphs, please show the supply-side and demand-side possible responses to recession to restore the economy to full employment.

  Equal balance between the military and non-military spending

Congress had achieved a feasible, equal balance between the military and non-military spending. Congress had proposed a budget that was not feasible since this proposal lies outside the government's PPF

  Analyze real world economic problems

Use economics theories and concepts to analyze real world economic problems.

  Explain how some government tax revenue and spending

Explain how some government tax revenue and spending can depend on the state of the economy. Reference needed.

  How many episodes should you watch the week

There are 50 episodes of a new TV show on Netflix that you want to watch before they expire at the end of next week. You are trying to decide how many episodes.

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