User Account

All Pages

What is the price elasticity of demand

Assignment Help Microeconomics
Reference no: EM132472964

Suppose the price of gasoline decreases from $4.10 to $2.10, and in response quantity demanded increases from 10100 to 11700. Using the mid-point formula, what is the price elasticity of demand?

Reference no: EM132472964

Questions Cloud

BBS104 Introduction to Biosecurity Assignment : BBS104 Introduction to Biosecurity Assignment Help and Solution, Box Hill Institute - Assessment Writing Service - Select and describe the major threats
Which country has a higher productivity : The capital stock per person of Country B and C are $27,000 and $10,000, respectively. Which country has a higher productivity?
Compare growth rates for romer and solow-romer models : Growth in the combined Solow-Romer is faster than the growth in the Romer model. Compare growth rates for Romer and Solow-Romer Models.
What is the price elasticity of demand : Using the mid-point formula, what is the price elasticity of demand?
What is the price elasticity of demand : Using the mid-point formula, what is the price elasticity of demand?
Identify the systems capabilities for mobile use : Should the system be built in-house, created by a contractor, purchased offthe-shelf and customized, or leased as a service? Explain your rationale.
Identify the four basic market structures : Identify the four basic market structures, in order, from the best for consumers to the being the best for producers.
What was her economic profit for the year : At the end of her first year of operation, her total revenues were $146000. Her total explicit costs were $48000. What was her economic profit for the year?
What is the firm variable cost : If fixed cost is $650 per week, then what is the firm's variable cost?

Reviews

Write a Review

Microeconomics Questions & Answers

  Determine the loss gain or recapture of MACRS depreciation

One of its competitors agreed to buy the machine for $110,000. Determine the loss, gain, or recapture of MACRS depreciation on the sale

  Does jim have a dominant strategy

a. Fill in a payoff matrix. b. Does Jim have a dominant strategy? Explain.

  What is the new equilibrium quantity in the market for pens

Suppose that due to a technological advance, supply increases by 10 pens at any given price. Holding everything else constant, what is the new equilibrium quantity in the market for pens

  The former ibm chairman louis gerstner''s comment

Relate to the former IBM chairman Louis Gerstner's comment "all about cycle time, speed, globalization, enhanced productivity, reaching new customers, and sharing knowledge across institutions for competitive advantage." Can you relate what you have ..

  How did the company rethink its strategic goal-setting

How did the company rethink its strategic goal-setting? How did it change its internal governance structure? How was this structure linked to its goal-setting?

  Identify the key economic concept

Briefly discuss the broader social implications of either the message in the article or the counter argument/alternative explanation that you develop in Section

  True about a monopoly

Suppose a firm is currently maximizing its profits (i.e., following the MR = MC rule). Assuming that it wants to continue maximizing its profits, if its fixed costs increase, it should. Which of the following is true about a monopoly?

  Compute the rate of return for this project

Assume that the following cash flows are associated with a project. Compute the rate of return for this project

  Review problem on market of apples

Consider the market of apples. Use the demand and supply diagram to explain the effect of a bad weather that has negatively affected the harvest on the price.

  Calculate the control costs under the tax policy

Calculate the control costs under the tax policy and compare their total to that achieved under the command and control policy in (d). Which policy is more cost effective? Why do you expect this finding to be true in general?

  How many buyers are in market and how many sellers

How many buyers are there? How many sellers? What is the product and/or service that is being sold? How are the prices set in the market?

  How would two rbas policy objectives are conflicting give

how would two of the rbas policy objectives are conflicting? please give an example. which of the goals would the rba

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