Q: Name three goods or services with highly elastic price elasticity of supply. Name three goods or services with highly inelastic price elasticity of supply. Give a brief description of each of these six goods or services.
A manager at strateline manufacturing much choose between twoshipping alternatives: two day freight and five-day freight. Using five day freight would cost $135 less than using two day frieght. The primary consideration is holding cost, which is $10 per unit a year. Two thousand items are to be shipped. which alternative would y
I am having trouble understanding the supply and demand relationship between supermarkets and their supply of shopping trolleys to customers, and the customers demand for the trolleys. At first glance it appears that no market exist because trolleys are given to customers for free, but this can't really be the case. For example
In the following table is data that describe the market for gasoline in a small town. For each given price there is a quantity supplied (QS) and a quantity demanded (QD). Price QS QD 0.5 30 193 0.6 35 186 0.7 40 180 0.8
1. (Demand and Supply) How do you think each of the following affected the world price of oil? (Use demand and supply analysis.) a. Tax credits were offered for expenditures on home insulation. b. The Alaskan oil pipeline was completed. c. The ceiling on the price of oil was removed. d. Oil was discovered in the North Sea.
Hello could you please assist me with this assignment. I have visited the realtor.com website to complete my assignment below to try and figure out how supply and demand affect the prices of homes, but I can't figure it out and I'm frustrated because I will be purchasing a home within the next year and know how valuable this inf
Please help with the following demand and supply problems. Provide at least 100 words in the solution. 1. Levi Strauss successfully markets Levi jeans on the History channel as a way for older men to stay young forever. What will happen in the jeans market ceteris paribus? 2. A tomato blight hits the South and wipes out
At a price of $5, consumers buy 150 units of good X. When the price rises to $6, quantity demanded decreases to 100 units. We can conclude that over this range, demand is: A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic.
Please help with the following problem. The demand and supply functions for sweatshirts (the basic grey kind) are as follows: Demand Supply Quantity Quantity Demanded Supplied Price (per period) Price (per period) $10 15,000 $10 22,000 9
Using graph(s) compare the impact on price, quantity and total revenue when: A) an elastic demand curve increases along a perfectly inelastic supply curve B) an inelastic demand curve increases along a perfectly inelastic supply curve NOTE: Assume the increase in demand in both cases are of the same size. This is just
Banner Company produces three products: A, B, and C. The selling price, variable costs, and contribution margin for one unit of each product follow: Product A B C Selling price $ 61 $ 91 $ 81 Variable costs: Direct materials 27 14 41 Direct labor 12 32 16 Variable man
2. The demand and cost functions for a company are estimated to be as follows: P = 100 - 8Q TC = 50 + 80Q - 10Q2 + 0.6Q3 a) What price should the company charge if it wishes to maximize its profit in the short-run? b) What price should it charge if it wishes to maximize revenue in the short-run?
(a) Suppose that someone told you that an increase in the price of DVD players caused a decrease in the demand for DVDs. Is this what you would predict? Why or why not? (b)Suppose that someone told you that an increase in the price of gasoline caused a decrease in the demand for public transportation. Is this what you would p
Gathering research for MBA paper. Scenario - there are 3 major airports within South Florida. Given airport enplanement fees will increase for 1 of those airports thus increasing passenger ticket fees: 1. Discuss supply and demand as it relates to airport market structure(oligopoly) 2. Discuss customers options - given the c
Assume the current bank reserve requirement is 10% If you deposit $100 to your checking account, and the money has gone through the full process of money creation, how much will the initial deposit increase to be? The Federal Reserve (the Fed) decides to conduct an open market operation to increase the money supply by $10
Graph the accompanying demand data, and then use the midpoint formula for Elasticity demand to determine price elasticity of demand for each of the four possible $1.00 price changes. What can you conclude about the relationship between the slope of a curve and it's elasticity? Explain in a non technical way why demand is elastic
There is no such a thing as a product B - so substitute your own "real product" for Product B - for example, Product B could be "bananas" and consider what would happen if bananas became more fashionable, the price of a substitute for eating bananas decreases (for example, oranges), etc. What effect will each of the follow
There is no such a thing as a product B - so substitute your own "real product" for Product B - for example, Product B could be "bananas" and consider what would happen if bananas became more fashionable, the price of a substitute for eating bananas decreases (for example, oranges), etc. 1. What effect will each of the fol
Assume an economy of two firms and two consumers. The two firms pollute. Firm 1 has a marginal savings function of MS1(e) = 5-e where e is the quantity of emissions from the firm. Firm 2 has a marginal savings function of MS2(e) = 8-2e. Each of the two consumers has a marginal damage MD(e) = e, where e in this case is the total
The market demand curve for a perfectly competitive market is QD = 12 - 2P. The market supply curve is QS = 3 + P. When will the market be in equilibrium?
The fully allocated cost of a product is $10. If the price elasticity of demand for the product is -2 what is the firm's optimal markup?
A firm produces a product at a fixed marginal cost of $2 and sells the product on two different markets. The demand on Market 1 is QA = 10 -P. The demand for Market 2 is QB = 20 - P. What price should Market 1 charge?
What do economists tell us about why oil prices are what they are and what is going to happen to them in the future? How did they reach these conclusions? what theories and concepts do they consider to be most relevant? Do you find their analysis convincing? why or why not?
I need some help with the attached. Given the following graphs and information answer the following questions (a) - (c) (1) Q*=100,000 (2) Pmarket = $25 (3) q* = 2500 (4) ATC at q* = 20 -make sure to show work and method for all of the questions. Graphically: (a) How many firms are supplying
The demand curve for product X is given by Qdx = 460 - 4Px a) How much consumer surplus do consumers receive when Px = $35? b) How much consumer surplus do consumers receive when Px = $25?
Suppose demand and supply are given by Qd = 50 - P and Qs = 1/2P - 10 a) What are the equilibrium quantity and price in this market? b) Determine the quantity demanded, the quantity supplied, and the magnitude of surplus if a price floor of $42 is imposed in this market. c) Determine the quantity demanded, the quantity
The demand curve for product X is given by Qdx = 460 - Px a) Find the inverse demand curve? b) How much consumer surplus do consumers receive when Px = $35? c) How much consumer surplus do consumers receive when Px = $25? d) In general, what happens to the level of consumer surplus as the price of goods falls?
Need help answering these questions? Listed Below 1. The price of Pepsi Cola increases from $0.50 per can to $0.75 per can, ceteris paribus. Will this cause a movement along the demand curve for Coca-Cola or a shift in the demand curve for Coca-Cola? In which direction (be specific, not just left or right)? Why? 2. The pr
Suppose your elasticity of demand for your parking lot spaces is -.05, and price is $20/day. If your MC is zero, and your capacity at 9 a.m. is 96% full over the last month, are you optimizing? Please explain.
Assume that the weekly supply of 16 oz bottles of soda at convenience stores in the Twin Cities of Minneapolis and St. Paul is a function of price such that: Qs = -20 + 80P Where Q is the number of sodas sold in convenience stores (in thousands) and P is the soda price. Assume demand is perfectly elastic at a price of $ 1