Very important information regarding elasticity of demand

Assignment Help Macroeconomics
Reference no: EM1327298

Important information about Calculating the income elasticity of demand

"Suppose the demand function is Q=20-4*Price+10*Income, what is the income elasticity if Income=400 and Q=20?"

Answer

A. There is not enough information to answer this question

B. 200

C.1000

 

Reference no: EM1327298

Questions Cloud

Required resources in system implementation : how do you evaluate number of required resources in system implementation
Various nondiscrimination laws : what decision do you think the school should make? To what extent do you think the decision is based on legal considerations or on policy considerations?
The capital budgeting methods : What capital budgeting methods do you use (eg payback period, IRR, NPV)? Do you think these are appropriate methods for your company?
Time is money-emily oster : Please give a written summarization on article "Time is Money" by Emily Oster. What is the take away of article?
Very important information regarding elasticity of demand : Very important information regarding calculating the income elasticity of demand
What condition is it appropriate to buy commercial : Under what condition is it appropriate to develop software in house and Why? Under what circumstances is it appropriate to commission development of custom software? Why? Under what circumstance is it appropriate to buy commercial or COTS software..
Budgeting for the future years : Describe how revenue sources are planned and budgeted in nonprofits. What are at least 4 of key revenue assumptions that should be made in for-profit entity?
Areas of technology risk management : What are the best practices in the areas of technology risk management
Suppose the elasticity of us exports is very low : Suppose the elasticity of U.S. exports with respect to the real exchange rate is very low

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd