User Account

All Pages

Laurel price elasticity of demand

Assignment Help Macroeconomics
Reference no: EM131096139

Laurel's individual demand for Harry Potter books is given by Ql = 50 - 2P . There are N consumers in the market for Harry Potter books in

  1. What is the equation for the market demand for Harry Potter books if all consumers have the same equation for demand as Laurel? 
  2. What is the price elasticity of the market demand for Harry Potter at P = 12.5? Compare it to Laurel's price elasticity of demand at the same price. Which is larger? Why?

Reference no: EM131096139

Questions Cloud

Computing the elasticity of demand : Suppose you are in charge of a toll bridge that is essentially cost free. The inverse demand for bridge crossings Q is given by P = 20 - Q/3, where P designates the potential toll fee.
Advertising as barrier to entry : Advertising as a Barrier to Entry: Consider the market for soft drinks. It is often said that advertising by an existing firm (say Pepsi) is a barrier to entry for other firms (say Joe's Cool-Aide Company) that might be considering entry into the mar..
Imagine one-dimensional city one mile long : Imagine a one-dimensional city one mile long, with boundaries at 0 and 1, with a uniform population density of 10,000 people per mile -meaning that the population of the city is 10,000, and that in any segment of length L miles, where 0 lessthanorequ..
Covariance model that allows for different treatment slopes : A student's reaction to the instructor's statement that covariance analysis is inappropriate when the treatment regression lines do not have the same slope was as follows:
Laurel price elasticity of demand : What is the price elasticity of the market demand for Harry Potter at P = 12.5? Compare it to Laurel's price elasticity of demand at the same price. Which is larger? Why?
More risky than the jobs done by younger workers : The average 50 year old worker is paid several times more than workers in the teens and 20's. Older workers have more human capital and higher MRP's Employers engage in widespread discrimination against younger workers Young people lack information a..
What is a key feature of materials requirements planning : What is a key feature of materials requirements planning (MRP)? In which phase of the systems development life cycle would changing tax rates in a software program be accomplished?
Enforceable patent on word processing software : Macrosoft, a profit maximizing software provider, has a fully enforceable patent on word processing software. They can produce software with no fixed costs and with a constant MC of $20 / software package. The market for word processing software i..
Analyse the core concepts of knowledge management : Knowledge Management Systems 6688 (PG) and 6688 (PG). To describe and critically analyse the core concepts of knowledge management using both a case study and a glossary

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

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