Complete the following table Market demand and supply schedule for Cranberries Price($ per Quantity Quantity Demanded Kg) supplied S 250 200 D 0 1 4 3 + OR- S-D ?? ?? PRICE TENDENCY ?? ??
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- The Stopdecay Company sells an electric toothbrush for $25. Its sales have averaged 8,000 units per month over the past year. Recently, its closest competitor, Decayfigh ter, reduced the price of its electric toothbrush from $35 to $30. As a result, Stopde cays sales declined by 1,500 units per month. What is the arc cross elasticity of demand between Stopdecays toothbrush and Decayfighters toothbrush? What does this indicate about the relationship between the two products? If Stopdecay knows that the arc price elasticity of demand for its toothbrush is 1.5, what price would Stopdecay have to charge to sell the same number of units as it did before the Decayfighter price cut? Assume that Decayfighter holds the price of its toothbrush constant at $30. What is Stopdecays average monthly total revenue from the sale of electric toothbrushes before and after the price change determined in part (b)? Is the result in part (c) necessarily desirable? What other factors would have to be taken into consideration?Calculate the price elasticity of demand for mobiletelephones where the quantity sold decreases from 225 to180 when the price rises from BD50 to BD57.5 3) With the help of a diagram, analyse the impact of entry ofnew suppliers into an industry on the demand and supplycurves. Make sure that your diagram is labelled clearly.The Potomac Range Corporation manufactures a line of microwave ovens costing $500 each. Its sales have averaged about 6,000 units per month during the past year. In August, Potomac’s closest competitor, Spring City Stove Works, cut its price for a closely competitive model from $600 to $450. Potomac noticed that its sales volume declined to 4,500 units per month after Spring City announced its price cut. a. What is the arc cross elasticity of demand between Potomac’s oven and the competitive Spring City model? b. Would you say that these two firms are very close competitors? What other factors could have influenced the observed relationship? c. If Potomac knows that the arc price elasticity of demand for its ovens is −3.0, what price would Potomac have to charge to sell the same number of units it did before the Spring City price cut?
- Please no written by hand which of the following figures is most likely to represent the cross price elasticity of demand of fiberone interenet services to starlink internet servicesDemand and supply function for a firm is demand equations QD = 3550 - 266P supply equations QS = 1800 + 240P What is equilibrium price and quantity.The Potomac Range Corporation manufactures a line of microwave ovens costing $500 each. Its sales have averaged about 6,000 units per month during the past year. In August, Potomac's closest competitor, Spring City Stove Works, cut its price for a closely competitive model from $600 to $545. Potomac noticed that its sales volume declined to 4,500 units per month after Spring City announced its price cut. a) What is the arc cross elasticity of demand between Potomac's oven and the competitive Spring City model? b) If Potomac knows that the arc price elasticity of demand for its ovens is −2.0, what price would Potomac have to charge to sell the same number of units it did before the Spring City price cut?
- Please no written by hand and no image The Potomac Range Corporation manufactures a line of microwave ovens costing $600 each. Its sales have averaged about 8,000 units per month during the past year. In August, Potomac’s closest competitor, Spring City Stove Works, cut its price for a closely competitive model from $800 to $550. Potomac noticed that its sales volume declined to 5,500 units per month after Spring City announced its price cut. (A.) What is the arc cross elasticity of demand between Potomac’s oven and the competitive Spring City model? (B) Would you say that these two firms are very close competitors? What other factors could have influenced the observed relationship? (C) If Potomac knows that the arc price elasticity of demand for its ovens is –3.0, what price would Potomac have to charge to sell the same number of units it did before the Spring City price cut?The Potomac Range Corporation manufactures a line of microwave ovens costing $500 each. Its sales have averaged about 6,000 units per month during the past year. In August, Potomac's closest competitor, Spring City Stove Works, cut its price for a closely competitive model from $600 to $545. Potomac noticed that its sales volume declined to 4,500 units per month after Spring City announced its price cut. What is the arc cross elasticity of demand between Potomac's oven and the competitive Spring City model? 1.5 –1.5 0 3.0 If Potomac knows that the arc price elasticity of demand for its ovens is −1.0, what price would Potomac have to charge to sell the same number of units it did before the Spring City price cut? $375 $450 $429 $667The Olde Yogurt Factory has reduced the price of its popular Mmmm Sundae from $2.25 to $1.50. As a result, the firm's daily sales of these sundaes have increased from 1,500 per day to 1,800 per day. What is the arc price elasticity of demand over this price and consumption quantity range?
- Calculate the market equilibrium level of price and quantity for housing unit? Calculate price elasticity of demand using point elasticity method when the construction industry is in equilibrium and interpret the result? Qd = 25000-2P Qs = 10000+1pThe manager of the Beauty and Life company has hired him to do a market study according to income groups.a market study according to income groups. The study yielded the following consolidatedfollowing consolidated information: Price Units demanded (if monthlymonthly income is$2.000.000) Units demanded (if monthlymonthly income is$3.000.000) 25.000 10 20 30.000 8 17 35.000 4 12 40.000 1 8 Use the data to find the following technical information: 1.1. Calculate the price elasticity of demand for each of the incomes, if the price isincreases from $30,000 to $35,000. Interpret each result What type of good is it in each case?(use two decimal places for the results). 1.2. Calculate the price elasticity of demand for each of the incomes if the price is reduced from $40,000 to $35,000. 1.2. Calculate the price elasticity of demand for each income if the price is reduced from $40,000 to $35,000. Interpret each result What type of good is it in each case?(use two decimal…Your market research unit submitted the income elasticity of demand estimate for non-fed ground beef at 1.94. The economic managers reported that due to a Pandemic the economy will slide into a deep recession and incomes on average are expected to decrease by 15 percent over the next two years. As manager of a meat processing plant, what will be the effect of your purchase of non-feed cattle beef?
