What is the price elasticity of the demand for tickets

Assignment Help Econometrics
Reference no: EM131057768

Market research indicates that you can sell 40000 tickets for the sundowns-Pirates clash at R10 each, or 30000 tickets at R20 each.which option would you choose?what is the price elasticity of the demand for tickets for this particular game?

Reference no: EM131057768

Questions Cloud

Use for preferred stock in the computation : OMG Inc. has 4 million shares of common stock outstanding, 3 million shares of preferred stock outstanding, and 5,000 bonds. Suppose the common shares sell for $20 per share, the preferred shares sell for $19 per share, and the bonds sell for 109 per..
What is the average of these five amounts : What is the average of these five amounts?
Discuss the expanding role of ethics committees : Discuss the expanding role of ethics committees, including internal operational issues and external influences that effect internal operations. What role do you believe is the most significant role an ethics committee plays, or should play?
What sort of activities do you think are risky : In this context, what sort of activities do you think are "risky"? Using the Argosy University online library and the Internet, find at least two examples of risky behaviors and potential (or real) outcomes.
What is the price elasticity of the demand for tickets : what is the price elasticity of the demand for tickets
Supplier of transportation services : Consider a firm selecting a supplier of transportation services? What are the advantages to using a truckload carrier? A package delivery firm such as UPS?
Identify one area that you can improve in and how : Provide a detailed explanation of your strengths in dealing with each group. Identify one area that you can improve in and how. Explain the importance of being professional.
How much profit or loss per haircut does the firm have : How much profit or loss per haircut does the firm have
How the boston police department performed : Provide at least one example of how the Boston Police Department performed each of these four sectors or systems of the police role in homeland security during the investigation of the Boston Marathon bombing.

Reviews

Write a Review

Econometrics Questions & Answers

  What will be value of investments at the end of time

A woman makes an investment every 3 months at a nominal annual interest rate of 28%, compounded quarterly. Her first investment was $100, followed by investments increasing $20 each 3 months.

  How long should an audit report be

Can all important information be conveyed in the standard length?

  How manager of largo publishing house adjust input usage

The Largo Publishing House uses 400 printers and 200 printing presses to produce books. A printer's wage rate is $20, and the price of a printing press is $5,000. The last printer added 20 books to total output, while the last press added 1,000 bo..

  What mode of treatment maximizes the expected value

here are three modes of treatment: Mode A, B, and C; and three possible states of nature: 1. Treatment succeeds and patient leads a normal life, 2. Patient survives treatment but is permanently disabled, and 3. Patient fails to survive treatment. ..

  How much advertise cost

A monopolist has two types of customers.There are 100 of type A, who will each pay up to $10 for a single unit of the good, and 50 of type B, who will each pay up to $8 Neither is willing to purchase additional units at any price. If it must charg..

  How much in revenues do businesses receive in product market

how much are households paid for providing entrepreneurial ability? $ billion for entrepreneurial ability b. If households spend $80 billion on goods and $70 billion on services, how much in revenues do businesses receive in the product market.

  What would be the market price if the normal rate is given

A firms in a purely competitive industry is currently producing 1000 units per day at a total cost of $450. If the firm produced 800 units per day, it cost would be $300, and if it produced 500 per day, its total cost would be $275.

  Develop an attitude of professional skepticism

Develop an attitude of professional skepticism

  Find the percentage change in price in absolute value

Moving along the demand curve, quantity demanded decreases 8 percent when price increases 10 percent .a. The price elasticity of demand is calculated to be. b. Given the price elasticity calculated in part a, demand is (elastic, inelastic, unitary e..

  Calculate new equilibrium price resulting from the govt

Suppose that the current price of oil is $60 per barrel and the quantity sold is 90 million barrels per day. Assume that the supply and demand curves for oil are linear. The current estimates of the price elasticity of supply and demand in the U.S..

  Which ran over the tracks of trolley and beneath the bridge

A 12-year-old boy, while crossing a bridge over the defendant's trolley tracks, swung an 8-foot-long wire over the bridge. The wire touched the defendant's uninsulated trolley wire, which ran over the tracks of his trolley and beneath the bridge

  What are the autarky price of shoes and the quantity produce

a. What are the autarky price of shoes and the quantity produced b. What are the levels of domestic production, consumption, and imports if the world price is $10 c. How do your answers in part b change if this country were to impose a tariff of 3$

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