A toy manufacturing firm makes a toy $5 and decide a markup of 3$. Calculate the selling price

Q: Suppose that a company sells comic books for $3 and sells 30 million copies. If they were to raise…

A: Price elasticity of demand measures the responsiveness of change in quantity demand to change in…

Q: If Jim’s Home Goods price elasticity of demand is −2, and its profit maximizing price is $6, then…

A: Price elasticity of demand: It is the responsiveness of the percentage change in the quantity…

Q: Price of a cigarette pack is 6 and quantity sold is 1000 in March .Price was raised by 25% in April…

A: Price elasticity of demand is the degree of responsiveness of quantity demanded to a change in…

Q: List down products/services for which Demand is less elastic also with Demand is more elastic

A: Elasticity: It refers to the supply and demand of the economy, which changes with the price of goods…

Q: A hotel wants to analyze its room pricing prior to a major promotional effort. Currently the…

A: In the question above, it is given : Standard price of the room per night = $150 Elasticity of…

Q: price is above the equilibrium, there will be excess supply of the product

A: True :-  Because if the price of a good is above the  equilibrium, this means that the quantity of…

Q: George has been selling 5,000 T-shirts per month for $8.50. When he increased the price to $9.50, he…

A: It is given that, Q1 = 5000, P1 = $8.50, Q2 = 4000, and P2 = $9.50. Therefore, the elasticity of…

Q: Joe's Pig Palace sells barbecue plates for $4.50 each, and serves an average of 525 customers per…

A: Price elasticity of demand refers to the responsiveness of the quantity demanded to a change in…

Q: BAD Enterprises is considering increasing the price of its harmonicas, currently $20, by 25 per…

A: Price elasticity of demand (PED) is defined as the responsiveness of the quantity demanded of a…

Q: LG, a major manufacturer of televisions develops a new technology used to produce TV’s. show…

A: Demand Curve: - demand curve is the graphical way of showing the relationship between the quantity…

Q: A consumer spends R2000 monthly on Product A when its price is R2 and continues to spend R2000…

A: The effect of a change in an economic variable on the quantity demanded of a product is measured by…

Q: Q1. Calculate the Income Elasticity of Demand (IED) and explain whether hotels are normal or…

A: a) Income elasticity of demand is the percentage change in the quantity demanded as response to a…

Q: Resorts give discounts to individuals who book in advance and stay over a weekend. Individuals who…

A: Price discrimination is a pricing strategy where identical goods or services are sold at different…

Q: The Ford F-150 (best selling vehicle in the U.S. for the last three decades) is currently priced at…

A: Here, it is given that the United States has the Ford F-150 as the best-selling vehicle for the 3…

Q: The profit maximizing quantity for this firm it is 2. The profit maximizing price for this firm…

A: The Monopolist refers to the single firm in the market or entire market is served by the single…

Q: A town of 2000 households constitutes a market for eggs. Current sales are 2400 dozen eggs per week…

A: Elasticity of demand is given by the rate of percentage change in quantity demanded to price.

Q: John owns a bread bakery. When he increases the price of a loaf of bread from R10 to R12, the…

A: Initial Price=R10 Increased price=R12 Percentage change in quantity demnded=5%   Price elasticity of…

Q: "Elasticity of demand aids managers in designing the product price and also helps them in…

A: Elasticity is defined as the degree of  responsiveness on the demand if the factor influencing it…

Q: Daffy’s is a pet care company that recently increased the average price of its services by 5%. As a…

A: Answer: Daffy is a pet care company and Baffy is a pet adoption company. When Buffy, a pet adoption…

Q: the prices of a good rises from $8 to $12 and the quantity demanded falls from 110 to 90 units…

A: PriceElasticityofDemand=(Q2−Q1)/[(Q2+Q1)/2]  (P2−P1)/[(P2+P1)/2]

Q: Discuss the price elasticity of liquor products of.a liquor company. Explain how the company's…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: Fill in the blanks: When demand is price-elastic, an increase in price causes total revenue to When…

A: Demand: The relation between price and demand is inverse. If the price increases the demand falls.…

Q: Vijay Dairy is selling flavored milk and buttermilk in packets of 150 ml. The dairy sells 2000…

A: The cross-price elasticity of demand is a measure of the degree of responsiveness in the quantity…

Q: Lawnlech sells its laser hedge trimmer at a price of $275, and estimates price elasticity of demand…

A: Elasticity of Demand measures the percentage change in qunatity demanded due to percentage change in…

Q: Patty's Putts increased the price of a round of miniature golf by 66.0%. Patty has calculated her…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Joe initially charged $180 for a electronic product and averaged 20 clients per week. When he raised…

A: The demand for goods decreases with an increase in price. of a good. The demand curve is negatively…

Q: A topic on optimal pricing, elasticity, stay-even analysis, or cost-based pricing.

A: There are many measures that the sellers can to maximize their profit. one of the measures is…

Q: Zulaikha and ker xin went to a shop to buy rice. Zulaikha wanted to buy 10 kg of rice and ker xin…

A: Price elasticity of demand refers to the responsiveness of the quantity demand due to change in the…

Q: Price elasticity of supply (PES): Definition Calculations Diagrams

A: The economics as a study is based upon the basic idea that the resources which are present with the…

Q: The Energizer Bunny that “keeps going and going” has been a very successful ad campaign for that…

A:

Q: Which product has the highest demand elasticity?   Question 9 options:   Housing   Mountain Dew…

A: Elasticity is used for measuring the response of one economic variable to another.

Q: An exclusive yoghurt manufacture sellers 4000 gallons per month at a price of GHS 40 each. When the…

A: Elasticity of demand measure the change in quantity demanded in response to change in the price of…

Q: Danny "Dimes" Donahue is a neighborhood's 9-year-old entrepreneur. His most recent venture is…

A: At price $2.5, sale  = 100 brownies. At price $ 2, sale = 300 brownies. We have to calculate price…

Q: Price elasticity of demand (PED) Addictive or not Time period to respond

A: The economies around the globe tend to have various entities, such as the consumers, households,…

Q: Your company makes a product, Widgex, that has no direct substitutes, currently popular, and very…

A: The price of the products can be set according to the level of price elasticity of demand, that is…

Q: If the value of price is $13 and the quantity is $14 find the total revenue

A: According to the given question Price given as = $13 Quantity = $14 Total revenue = ?

Q: Ali's Gyros operates near a college campus. Ali has been selling 120 gyros a day at $4.50 each and…

A: a. The price elasticity of demand using the midpoint formula (Arc Ed) Arc Ed = [(Qd2 – Qd1) /…

Q: But first coffee”, those are words that are often said by many workers who are used to drinking…

A: Elasticity of demand is said to be the percentage change in quantity demanded with respect to its…

Q: Price Elasticity of Demand Problem Business has price elasticity of -1.5 They sold 300 units at…

A: Price elasticity of demand =-1.5 Initially, at the price of $10, they sold 300 units P1 =$10, Q1=300…

Q: consumers' sensitivity to price changes makes demand elastic, then a price decrease leads to: an…

A: Price and total revenue have a negative relationship when demand is elastic Hence, price decrease…

Q: Elasticity of demand is 2.6. We would say those customers are? price sensitive, not price sensitive,…

A: Elasticity measures the responsiveness of quantity demanded to changes in price

Q: At a price of $40, a store can sell 35 toasters a day. At a price of $35 the store can sell 39…

A: Total revenue (TR) = P x Q If TR decreases after a price decrease, it means demand is inelastic, and…