Will you move upward or downward along the demand curve

Assignment Help Microeconomics

Reference no: EM13214024

The demand curver for your firms product is linear.Based on recent sales data you have determined that at the current price the price elasticty of demand is .80.

A. Is the current price on the upper or lower portion of the demand curve?

B. If you want to increase your total revenue, should you increase or decrease your price?

C. Will you move upward or downward along the demand curve?

Reference no: EM13214024

Questions Cloud

Compute ?h for the solution process : When a 3.25 g sample of solid sodium hydroxide was dissolved in a calorimeter in 100.0 g of water, the temperature rose from 23.9 °C to 32.0 °C. Calculate ?H (in kJ/mol) for the solution process: NaOH (s) → Na+ (aq) + OH- (aq)

How to give the hypothetical elastisicites : You have been hired to predict the effects of increasing the price of itunes songs by 10% from .99 cents to $1.09. You are interested in the effects of the price hike on the number of songs downloaded legally from itunes the number of songs downlo..

What type of party system : What type of party system does the U.S. have, and, as a result, what is likely to happen to the Tea Party and why?

The process of psychotherapy : During the process of psychotherapy, Elaine recovered some long-forgotten and painful memories from her childhood. This experience led her to conclude that these memories must have been repressed for many years.

Will you move upward or downward along the demand curve : The demand curver for your firms product is linear.Based on recent sales data you have determined that at the current price the price elasticty of demand is .80. A. Is the current price on the upper or lower portion of the demand curve

Relative liquidity and solvency of companies : The financial statements of The Hershey Company appear in Appendix B, following the financial statements for Tootsie Roll

Important of wilson''s progressive reforms : What were the most important of Wilson's progressive reforms? Was Wilson actually a more effective progressive than Theodore Roosevelt? Why or why not?

Will total revenue in the industry increase of decrease : Consider the demand for mobile phones. Suppose the price elasticity of demand for the market as a whole is .80. A. If all mobile-phone companies simultaneously increased their prices, will total revenue in the industry increase of decrease

Apple store and itunes in taiwan or china : Where is the base and where are they operating? - US base, think about South America, or I'm a Taiwanese, think about the comparison between Apple store and ITunes in Taiwan or China.

User Account

All Pages