To calculate the firm''s total revenues change

Assignment Help Microeconomics

Reference no: EM13193793

You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8.

How much will your firm's total revenues change if you increase the price of good X by 2 percent?

Reference no: EM13193793

Questions Cloud

Explain the nitrogen molecule : the IUPAC name for the aniline C6H5NH2 with both CH3 and CH2CH2CH3 attached to the nitrogen molecule?

What are some specific criminal justice policies : What are some specific criminal justice policies supported by the current administration? Can the policies be categorized as being liberal or conservative? Explain your answer.

Define the termpublic policy : What problems are associated with formulating crime policy based on crime perceptions rather than crime reality? On what characteristics must crime policy be based?

State net ionic equation for the neutralization reaction : Write a net ionic equation for the neutralization reaction of CH3CO2H(aq) with CsOH(aq). 2. Which of the following compounds is an Arrhenius base in water?

To calculate the firm''s total revenues change : You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y.

Use the quadratic formula : A rocket is launched from atop a 95-foot cliff with an initial velocity of 119 ft/s.

Explain what is the concentration of hac : How many mL of a .1 N solution of NaOH must be added to a 25 mL solution of .1 N HAc to obtain a pH of 9.75? What is the concentration of HAc at this pH

Analyze the codes of conduct : Prepare a recommended list of at least 7 essential elements that must be included in your organization's code of conduct based on your analysis and assessment.

Find the dimensions of the corral with maximum area : Suppose that 646 ft of fencing is used to enclose a corral in the shape of a rectangle with a semicircle whose diameter is a side of the rectangle. Find the dimensions of the corral with maximum area (in terms of x and y)

User Account

All Pages