Explain you are reasoning also interpret your results

Assignment Help Business Economics

Reference no: EM1344167

Q. Assume you are a painter also the price of a gallon of paint increases from $3.00 a gallon to $3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month. Perform the subsequent:

1. Compute the price elasticity of demand for paint also Demonstrate your calculations.

2. Decide whether the demand for paint is elastic, unitary elastic or inelastic.

3. Explain you're reasoning also interpret your results.

Reference no: EM1344167

Questions Cloud

Why this game is called a cooperative game : In recent yrs, persons also state governments have sued various tobacco companies to compensate for illness also injury allegedly cause d by cigarette smoking.

Evaluate the payback period and npv : You are considering a project that will require an initial outlay of $54,200 - Evaluate the payback period, NPV, PI, and IRR.

Using the comparable company analysis valuation method : Company A shares are currently trading at $20 per share. A survey of Wall Street analysts reveals that EPS expectations for Company A for the full year 2008 are $1.50 per share.

Servlet to return randomly chosen greeting : Write a servlet that returns a randomly chosen greeting from a list of five different greetings.

Explain you are reasoning also interpret your results : Decide whether the demand for paint is elastic, unitary elastic or inelastic. Explain you're reasoning also interpret your results.

Mnc-currency-mergers and acquistions : What factors cause currencies to differ in value from one another? How do currency fluctuations affect earnings of multinational corporations?

Give examples of good and bad guarantees : Given all the service guarantees we see or hear on a daily bases, do these really make you feel better about the services you are paying for at the bank, restaurant, cable company or retail store?

Determine the irr for the lease : Determine the net advantage to leasing and determine the IRR for the lease - worth of warehousing equipment under a lease that would require annual lease payments in arrears for five years.

Illustrate what inconsistent other than price appear : Illustrate what inconsistent other than price appear ro have the biggest impact on the demand for McDonald's products.

User Account

All Pages