User Account

All Pages

Determine the demand equation

Assignment Help Operation Management
Reference no: EM132820095

Problems (Please show all work and remember to label all graphs!) 2) Supply and Demand/Demand Analysis

Suppose that your analyst estimates the demand equation for good X as given below:

=12- -2 +1 +

Good X sells for $1 per unit, good Y sells for $2 per unit, good Z sells for $1 per unit, and consumer income is $4.

  1. Using the information provided by your analyst, please determine the demand equation. (Please use graphs to support your answer).
  2. Please calculate the own price elasticity of demand for good X. Is the demand for good X elastic, inelastic, or unit elastic? (Please indicate where on your graph of the demand equation from part a, your calculation of own-price elasticity lies.)
  3. If I increase the price of good X by 0.13%, what happens to revenues? (Please use graphs to support your answer.)

Reference no: EM132820095

Questions Cloud

What is the difference in the eac of the two cars : You are trying to pick the least expensive car for your new delivery service. You have two choices: the Scion xA, which will cost $13,000 to purchase
Describe another common social characteristic : From your research thus far, name and describe another common social characteristic shared by juvenile offenders. Now that you know more about the commonalities
Compute the irr for project x : Compute the IRR for Project X and note whether the firm should accept or reject the project with the cash flows shown as follows if the appropriate cost of capi
Calculate the profitability index of project : After discovering a new gold vein in the Colorado mountains, CTC Mining Corporation must decide whether to mine the deposit.
Determine the demand equation : Problems (Please show all work and remember to label all graphs!) 2) Supply and Demand/Demand Analysis
Identify the agency or directorates legal missions : Develop an information paper that identifies an agency or directorate of the DHS. The information should include a discussion of jurisdiction or responsibility.
Are there offenses in which juveniles should be housed : In this unit, we covered the various institutions which hold juveniles such as detention centers, long-term secure facilities, and residential treatment.
Describe in words the hedging strategy : Describe in words the hedging strategy that the company should take in each of these cases.
Personal balance sheet task : Suppose that your personal financial situation is composed of these seven assets:

Reviews

Write a Review

Operation Management Questions & Answers

  Use these tools in your bicycle manufacturing operations

As an operations manager you have been tasked with analyzing the processes in your mature bicycle manufacturing operation. Two of the tools are the value stream map and the regular process map. Disucss how you will use these tools in your bicycle man..

  Considering the the ritz-carton

Considering the The Ritz-Carton, Half Moon Bay evaluate and discuss the pros and cons of taking group bookings.

  New product line-subcontract-expand existing facility

MKGP has just introduced a new product line. It is considering three options regarding its new product line: (1) subcontract, (2) expand existing facility,

  Which of the 7 qc tools would be most useful

The publication team for an engineering department wants to improve the accuracy of its user documents but is unsure why documents are not error free.

  What is organizational design

What is organizational design and how does it relate to the organizing function?

  What are the communication ethics of labeling a product

What are the communication ethics of labeling a product as made in a country (typically for marketing reasons) when it is only minimally true? Do you think that companies should have to disclose all of the locations where their products are made?

  Involving the environment that impact business in future

What will be the most critical issues involving the environment that impact business in the future?

  Era of healthcare reform

Describe the two initiatives on which the Affordable Care Act (ACA) is based.

  What is the annual total cost of material-order processing

A tablet computer manufacturer procures memory chips used in its tablet assembly from a special supplier. The supplier offers all unit quantity discounts for the memory chips. What is the optimal order size? What is the annual total cost of material,..

  Demographic and cultural diversity at power energy

What concerns, if any, do you have about Penelope ’ s commitment to demographic and cultural diversity at Power Energy?

  Describe the congruence model of effectiveness

Describe the Congruence Model of Effectiveness. If a child is small and has been diagnosed as having developmental disabilities because the mother was a moderate drinker during the pregnancy. Could the drinking have a impact on the child? How do the ..

  Find the optimal run size-number of runs per year

The Friendly Sausage Factory (FSF) can produce hot dogs at a rate of 5,000 per day. Find the optimal run size. Find the length (in days) of a run

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