Equation of an Elastic Curve
Given the equation of the elastic curve for a simply supported beam, how would you obtain the slope in the beam, since the equations are related?
I was confident that I had to differentiate the elastic curve twice however that answer was wrong!!! My other options are...
a) Differentiate the elastic curve
b) Integrate the elastic curve
c) Differentiate the elastic curve twice XXX
d) None of the above
https://brainmass.com/engineering/mechanical-engineering/equation-elastic-curve-62194
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Attached you will find some information to help you understand this topic. Based on this information, the given the equation of the elastic curve for a simply supported beam, you would obtain the slope in the beam, by differentiating the elastic ...
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Managerial Economics
MANAGERIAL ECONOMICS
1. Construct a Supply/Demand (S/D) graph, identify the initial equilibrium, then identify the new equilibrium when Supply decreases and Demand increases.
2. In the graph for question number 1, what would happen to the initial equilibrium when consumer incomes increase, assuming the good in question is an inferior good? Explain your answer using an S/D graph
3. Given the following equation: Q=20 - 2p + 35I - 13S, where Q is quantity, P is price, I is income, and S is the price of a related good, what is the own price elasticity of demand when Q=20 and P=5? What is the cross price elasticity assuming S=15 and Q=20? Is the good a substitute or a complement?
4. Draw one graph showing a Demand curve, and the corresponding Marginal Revenue curve; also, show the price elasticity ranges along the Demand Curve.
5. Write a short essay explaining why a profit-maximizing manager should never set price in the Inelastic portion of the demand curve.
6. Assume the following equation where quantity is a function of price: Q = a + b P. Identify the Y-intercept and the slope that this equation would generate for a normal Demand Curve. (By normal I mean the way a Demand Curve is drawn in the undergraduate classes where Price is on the vertical axis and Quantity is on the horizontal axis, or where price is a function of quantity.)
7. Briefly identify four determinants of own-price elasticity.
8. Explain why a firm that uses all fixed cost and zero variable cost will always price in the unit elastic range of the demand curve.
1. Construct a Supply/Demand (S/D) graph, identify the initial equilibrium, then identify the new equilibrium when Supply decreases and Demand increases.
2. In the graph for question number 1, what would happen to the initial equilibrium when consumer incomes increase, assuming the good in question is an inferior good? Explain your answer using an S/D graph
3. Given the following equation: Q=20 - 2p + 35I - 13S, where Q is quantity, P is price, I is income, and S is the price of a related good, what is the own price elasticity of demand when Q=20 and P=5? Is it elastic or inelastic? What is the cross price elasticity assuming S=15 and Q=20? Is the good a substitute or a complement?
4. Draw one graph showing a Demand curve, and the corresponding Marginal Revenue curve; also, show the price elasticity ranges along the Demand Curve.
5. Write a short essay explaining why a profit-maximizing manager should never price in the Inelastic portion of the demand curve.
6. Assume the following equation where quantity is a function of price: Q = a + b P. Identify the Y-intercept and the slope that this equation would generate for a normal Demand Curve. (By normal I mean the way a Demand Curve is drawn in the undergraduate classes where Price is on the vertical axis and Quantity is on the horizontal axis, or where price is a function of quantity.)
7. Briefly identify four determinants of own-price elasticity.
8. Explain, using words and graphs, why a firm that uses all fixed cost and zero variable cost will always price in the unit elastic range of the demand curve. In your answer, identify the profit maximization rule.
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