Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Elasticity-
a) The price of good X goes up by 2.75%, the quantity demanded of good Y goes from 10,500 units to 25,000. What is the Exy? What does that number mean? What is the relationship between these two goods?
b) National incomes have gone from and average of $36,000 last year to $34,000 this year. We see that the amount of widgets has changed from 102,500 last year to 105,000 this year. What is the income elasticity of widgets? What does this number mean? What type of good is a widget?
c) Use Arc Elasticity To Find The Price Elasticity Of Demand. What does this number mean? Is it in the elastic or inelastic range? What would happen to total revenue with the price reduction?
d) Northern California Pro Bikes hired an economist to make predictions about the firm's sales and total revenue. The economist found that the price elasticity of demand for Pro Bikes is 0.8. Should the firm increase or decrease the price of Pro Bikes? Why?
Problem: (a) Define money and briefly explain its core functions. (b) Explain the relationship between interest rate and price of bonds, illustrate using example. (c)
Income and Substitution Effects A fall in price of a good has the two effects: Substitution & Income -Substitution Effect Consumers will tend to buy more of the good
Economies of Scale The reduction in the cost of each additional unit produced as all factors of production increase. Factors contributing to economies of scale include discoun
How might governments lower the natural rate of unemployment? An easy way to organise the answer is to separate possible solutions into two broad groups; interventionist and m
discuss the term of price mechanism,give examples to elaborate the concept clearly
Economic Cycle The economic cycle is the long-standing sample of alternating times of economic growth (expansion) and decline (recession), followed by changing economic indica
Imagine a country where plane and train services between two main cities are both provided by private companies, and, from a consumer perspective these services are viewed as subst
demand for two market are P1=15-Q1&P2=25-Q2.the monopoly TC is C=5+3(Q1+Q2).What are ,output,profit&MR if the monopolist can price disc? riminate
#question meaning ..
Cardinal Theory: An Introduction In cardinal approach, utility is measured cardinally or numerically in terms of money. The consumer not only knows which one is preferred but
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!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd