As the unit price of hamburgers rises from $10 to $12 the quantity demanded of hamburgersfalls from 6,000 to 4,000. Calculate the price elasticity of demand of hamburgers using mid-A.point method. Is the demand elastic, unit elastic or inelastic?Assume the price elasticity of demand for hotdogs is elastic and price elasticity of supplyB.of hotdogs is inelastic. A new technology has just been developed and the hotdog producerscan now produce hotdogs at a lower cost. What impact would the new technology have onthe revenue of the hotdog producers? Explain your answer.C.An economy produces two goods, donut and yogurt. Below are the data for 2017, 2018 and2019.DonutYogurtYearPriceQuantityPriceQuantity$5$8$10$122017500500$61,0001,00020181,500$920192,000Use 2017 as the base year, calculate the percentage change in real GDP from 2018 to 2019. Suppose in an economy where consumers buy only the 3 goods in the table below.D.CoffeePotatoBananaYearPricePricePrice$2$2$3$120182019$2$2Assume the market basket contains 90 potatoes, 30 coffees and 100 bananas. With 2018 asthe base year, use the CPI (consumer price index) method to calculate the inflation rate in2019.

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Asked Dec 17, 2019
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As the unit price of hamburgers rises from $10 to $12 the quantity demanded of hamburgers
falls from 6,000 to 4,000. Calculate the price elasticity of demand of hamburgers using mid-
A.
point method. Is the demand elastic, unit elastic or inelastic?
Assume the price elasticity of demand for hotdogs is elastic and price elasticity of supply
B.
of hotdogs is inelastic. A new technology has just been developed and the hotdog producers
can now produce hotdogs at a lower cost. What impact would the new technology have on
the revenue of the hotdog producers? Explain your answer.
C.
An economy produces two goods, donut and yogurt. Below are the data for 2017, 2018 and
2019.
Donut
Yogurt
Year
Price
Quantity
Price
Quantity
$5
$8
$10
$12
2017
500
500
$6
1,000
1,000
2018
1,500
$9
2019
2,000
Use 2017 as the base year, calculate the percentage change in real GDP from 2018 to 2019.
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As the unit price of hamburgers rises from $10 to $12 the quantity demanded of hamburgers falls from 6,000 to 4,000. Calculate the price elasticity of demand of hamburgers using mid- A. point method. Is the demand elastic, unit elastic or inelastic? Assume the price elasticity of demand for hotdogs is elastic and price elasticity of supply B. of hotdogs is inelastic. A new technology has just been developed and the hotdog producers can now produce hotdogs at a lower cost. What impact would the new technology have on the revenue of the hotdog producers? Explain your answer. C. An economy produces two goods, donut and yogurt. Below are the data for 2017, 2018 and 2019. Donut Yogurt Year Price Quantity Price Quantity $5 $8 $10 $12 2017 500 500 $6 1,000 1,000 2018 1,500 $9 2019 2,000 Use 2017 as the base year, calculate the percentage change in real GDP from 2018 to 2019.

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Suppose in an economy where consumers buy only the 3 goods in the table below.
D.
Coffee
Potato
Banana
Year
Price
Price
Price
$2
$2
$3
$1
2018
2019
$2
$2
Assume the market basket contains 90 potatoes, 30 coffees and 100 bananas. With 2018 as
the base year, use the CPI (consumer price index) method to calculate the inflation rate in
2019.
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Suppose in an economy where consumers buy only the 3 goods in the table below. D. Coffee Potato Banana Year Price Price Price $2 $2 $3 $1 2018 2019 $2 $2 Assume the market basket contains 90 potatoes, 30 coffees and 100 bananas. With 2018 as the base year, use the CPI (consumer price index) method to calculate the inflation rate in 2019.

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Hello. Since you have posted multiple questions and not specified which question needs to be solved, we will solve the first question for you. If you want any other specific question to be solved then please resubmit only that question or specify the question number.

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(A) Price elasticity measures the change in a quantity demanded (Q) due to change in a price...

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(Q, - Q)/[Q, +Q,)/ 2] (P. – P.)/[(P, + P,)/2] Where Q, is the new qunatity, Q is the initial qunatity, Price elasticity of demand P, is the new price and P, is the initial price.

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