Discussion 21

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2. After a careful statistical analysis, the Chidester Company concludes the demand function for its product is Q = 500 - 3P + 2Pr + 0.1Iwhere Q is the quantity demanded of its product, P is the price of its product, Pr is the price of its rival’s product, and I is per capita disposable income (in dollars). At present, P = $10, Pr = $20 and I = $6,000.a. What is the price elasticity of demand for the firm’s product?b. What is the income elasticity of demand for the firm’s product?c. What is the cross-price elasticity of demand between its product and its rival’s product?d. What is the implicit assumption regarding the population in the market?

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Explain how revenue for both milk producers and beef producers will be impacted by the drought conditions.

Discuss three different possible techniques which a company can use to forecast the demand for its products.

Bill's Bookstore is tracking its monthly demand for textbooks and has seen the following demand pattern. MONTH FORECASTED DEMAND ACTUAL DEMAND April 150 165 May 220 210 June 215 200 July 245 250 August 205 225 The bookstore has decided to use a three-month weighted moving average to forecast demand. What would be September's forecast if the weights 0.50, 0.30, 0.20 with the higher weights going to the most recent data?

Read the following extract and answer the questions that follow:Big fuel price hikes announced for Wednesday, 29 Nov 2021The petrol price will be hiked by 81c a litre on Wednesday, while diesel will go up by between 72.5c a litre (0.05% sulphur) and 74.5c (0.005% sulphur), the department of mineral resources and energy announced. The latest price hike will push the price of petrol - currently around R19.50 a litre - to above R20 in Gauteng and other inland provinces. At the start of November, petrol prices were hiked by R1.21, while diesel increased by R1.48. Illuminating paraffin will go up by 42.2c/l, while the maximum LP Gas retail price will be increased by 183.00c/kg from 1 December. Local fuel prices are determined by international oil prices - as well as the dollarrand value, as South Africa buys oil in dollar. The latest fuel price hikes are due in large part to a sharp fall in the rand against the dollar, which averaged at R15.85/$ over the past month, compared to R14.72 the…

The following graph shows the monthly demand and supply curves in the market for notebooks. Use the graph input tool to help you answer the following questions. You will not be graded on any changes you make to this graph. Note: Once you enter a value in a white field, the graph and any corresponding amounts in each grey field will change accordingly. PRICE (Dollars per notebook) 88 2288 22 220 100 90 80 70 60 50 40 30 Supply Demand 0 50 100 150 200 250 300 350 400 450 500 QUANTITY (Notebooks) The equilibrium price in this market is Graph Input Tool Market for Notebooks Price (Dollars per notebook) Quantity Demanded (Notebooks) per notebook, and the equilibrium quantity is 20 310 Quantity Supplied. (Notebooks) notebooks per month. 190

Economics Over the past decade, holiday gift cards have become increasingly popular at online retailers. Not long ago, online shoppers had to really hunt at most e-retailer' sites to purchase a gift card, but today it is easier to purchase gift cards online than at traditional retail outlets. Provide a comprehensive initial post answering the following questions: Do you think online gift cards are merely a fad? Explain carefully.

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Circle the letter associated with the correct answer and write the correct letter on the line (and use corresponding online answer key to submit your answers..make sure you read the associated questions and responses). The following data for gasoline sales and prices at a Slurpico Station in West Valley, Washington are from the United States Department of Energy. Prices are in dollars and sales are in gallons per day and driven by the quantity of gallons demanded: Sales 330 340 350 360 370 380 390 400 410 420 430 Price 3.50 3.25 3.00 2.75 2.50 2.25 2.00 1.75 1.50 1.25 1.00 Compute the price elasticity of demand when the price increases from $3.00 to $3.25 and determine what type of product gasoline is: (hint: use the midpoint method) а. Formula Calculation Answer Price elasticity of demand for gasoline is Compute the price elasticity of demand when the price increases from $1.25 to $1.50 and determine what type of product gasoline is: (hint: use the midpoint method) b. Formula…

Leftward or Rightward Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer.  Take care of plagiarism. Answer completely. You will get up vote for sure.

conomics 7) Refer to the graph below. Which move leads to a decrease in revenue? 11.0 10.0 20 1.0 10 20 100110 Quantity The move from A to B. b) The move from C to D. c) Both the move from A to B and the move from C to D result in lower revenue because price is lower in both cases. d) Neither the move from A to B nor the move from C to D decreases revenue because the quantity sold is increasing in both cases. 8) Refer to the formula below. This is the formula for: %4Qx %AP a) Price elasticity of demand. b) Cross-price elasticity c) Income elasticity d) Price elasticity of supply 9) The demand for the good is. So, when the price of a good falls, revenues of producers decrease. c) a) relatively elastic b) relatively inelastic perfectly elastic d) none of the above 10) A perfectly horizontal demand curve has a price elasticity of a) one b) zero c) less than one d) infinity

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Refer to the graph and answer the question thanks.!! Estimate the demand at the price level $180.                       pans.  Round to the nearest pan.

Find the attached file.

Industries like manufacturing, retailing and utilities are considered seasonal and may exhibit uneven or seasonal demand true or false [ dont use chatgpt]

Please just give one answer. I already posted this question and the tutor gave me two different answers. They said it was both option a and c and that's incorrect. Thank you

Estimate the lowest price at which the demand is zero. $                      .  Round to the nearest dollar. Refer to the graph below to answer question thanks appreciate it!!!

Summarize this While the major economies slid into recession and industries suffered great losses to the COVID-19 pandemic, E-commerce sales saw explosive growth. In this rapid movement of consumers to online purchasing and delivery services, there has been a large increase in the demand for packaging materials, such as cardboard boxes. Supporting this, Parcel Shipping Index by Pitney Bowes Inc. (2020) finds global parcel volume exceeding 131 billion, a 27% increase from 2019. Corrugated cardboards are largely and versatilely used for secondary packaging of goods, up to the tertiary packaging of large packs into mass cargo (Saxon Packaging, 2020). In addition to its relatively low cost, its strength and durability are also remarkable in protecting a variety of products from damage, notably during the shipment process. Given this, businesses have been largely reliant on the material as a practical, secure, and sustainable way of containing their products from production centers to…

Fill in the blank by typing 'increase', 'decrease', 'no change', or 'uncertain'. To receive credit, make sure to type the words in exactly as I have above. Do not include the apostrophes ('). As winter turns to spring, the weather begins to get warmer. Therefore, the equilibrium price for heavy sweaters will and the equilibrium quantity will

Textbooks and the Internet Four companies dominate the higher education textbook market: Pearson, McGraw-Hill Education, Cengage, and Wiley. College textbooks can be an expensive addition to the cost of higher education. College textbook prices have increased at a rate of three times inflation since 1977. The current average cost of a college textbook is $175. In recent years, the introduction of online textbooks and opensource materials have disrupted this market and changed some of its characteristics.   1. Do you think the change has a benefit or hurt to society? What will be the effect of the continued expansion of foundations and governments funding opensource texts? How does this change benefit or hurt society?

I mostly need help with the total revenue calculations at the bottom of the screenshot. If you could also briefly go over the fill in the blank questions too that could be great. I want to understand how those answers are used in the calculation of the total revenue values. Thanks!

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Chapter 3: Supply and Deman C Checkout | Chegg.com Quiz List - Principles of Macro X ms/quizzing/user/attempt/quiz_start_frame_auto.d21?ou=8698368&isprv=&drc=0&qi=9643220&cfql=0&dnb=0&fromQB=0 + 2 - Demand and Supply Ebraam Awad: Attempt 1 Consider the demand for a normal good-illustrated in the graph below. Suppose income decreases. What effect would this have in the graph? p, Price po Do Qo Quantity This would result in the demand curve shifting to the right. This would result in a slide up the demand curve. This would result in a slide down the demand curve. MacBook Pro G Search or type URL %24 & 8

Given the following situations, determine the effect on Qd or D or Qs or S for electric cars. Write ↑ Qd, ↓ Qd, ↑ D, ↓ D, ↑ Qs, ↓ Qs, ↑ S, ↓ S or no effect. For each answer, graphically  illustrate using the corresponding demand curve or supply curve. Show graphical table (Use digital graphical calculator or microsoft word). Label properly: 1.There is a sustained steady decline in petroleum prices.2.Increase in the cost of manufacturing batteries due to raw material price fluctuations.3.Higher than expected maintenance costs for this type of cars compared to traditional combustion engine cars.4.Difficulty recruiting skilled workers specializing in this production.5.Advancements in battery technology significantly increases the range of electric cars.6.Cybersecurity threats in the software system in the production lines.7.Improved efficiency in the supply chain for the essential electric vehicle components.9. Increasing trend in the price of electric cars.