Define difference types of elasticity. On Tuesday, price and quantity demand are Tk 7 and 120 units respectively. Ten days later, price and quantity demand are Tk 6 and 150 units respectively. What is the price elasticity of demand?

Q: Identify any two reasons that US dollars would be demanded in South Africa

A: There can be many reasons that the foreign currency would be demanded in a country such as for trade...

Q: Suppose there are two countries Peru and Japan that produce Food and Fuel. Peru can produce 7,523 un...

A: According to Ricardian Theory, international trade is beneficial not only if the two countries have ...

Q: Q.1.10 Which of the following statements is correct? (2)(1) When a British firm invests in a bicycle...

A: Answer - Need to find - Which of the following statements is correct Evaluating the options -  1) Wh...

Q: What factors hinder firms in monopolistic competition from earning economic profits in the long run?

A: Monopolistic competition is a form of imperfect competition where there are a large number of buyers...

Q: Question 24 options:   $2,460.20   $7,512.20   $8,563.40 ...

A: Real GDP for 1986 can be calculated as follows: Real GDP1986=Nominal GDPPrice index×100=4,59053.6×10...

Q: A commodity has a demand function modeled by p= 100-0.5x and the total cost function is C= 50x+37.5 ...

A: Answer: Introduction: Condition for maximum profit: Profit is maximum where marginal revenue is equa...

Q: What is strategic marketing planning, and what is itspurpose?

A: Strategic Marketing planning requires setting objectives and goals, analyzing external and internal ...

Q: What relevant aspects of the economy are not reflected in the national income accounting system?

A: National income accounting is a record-keeping system that records the economic activities of a nati...

Q: - Suppose that work hours in New Zombie are 200 in year 1, and productivity is $8 per hour worked. W...

A: Real economic growth is the rate at which a nation's Gross Domestic Product (GDP) grows from one yea...

Q: You're the manager of global opportunities for a U.S. manufacturer that is considering expanding sal...

A:   Answer:  Step 1: Given, The selling price of products = $10 The constant marginal cost = $8 Fixed ...

Q: 1.1. Kenya has a comparative advantage over Uganda in the production of sugar if it: (1) Is able to ...

A: An economic entity or nation is said to have a comparative advantage in the production of a good or ...

Q: 14 12 14 b. What is true about marginal revenue and marginal costs when profit is maximized? c. What...

A: Under perfectly competitive markets, the price and marginal revenue curves coincide with one another...

Q: Draw the price effect and the quantity effect fora price change from $60 to $70. Which effect islarg...

A:   Meaning of Price Elasticity of Demand and Price Elasticity of Supply: The extent of the change of ...

Q: Hello, I have finished reading chapter6: product costs and have some trouble understanding the short...

A: Average variable cost(AVC), average total cost (ATC), and marginal cost(MC) all these curves are dow...

Q: Certain skilled labor, such as hair cutting, requireslicensing or certification, which is costly and...

A: ANSPrice elastiticity of supply (PES) is the ration between the % change in quantity supplied and % ...

Q: Is either helicopter money or quantitative easing preferred in times of severe recessions in order t...

A: Under helicopter monetary policy, the government makes large money or cash transfer to the public by...

Q: In the nonlinear function Y = aXbZc, the parameter c measures

A: Given equation is a non-linear function of X and Z with different parameter. In this equation the de...

Q: Assume you are the CEO of a company that has invested $5 billion in a COVID vaccine, but the vaccine...

A: Given, Total amount already invested = $5 billion Expected sale = $3 billion Cost to complete the va...

Q: Chemists at risk as prices are slashed: Big price cuts on a wide range of medicines and vitamins wer...

A: The market is a location where the transaction of services and commodities takes place. It is import...

Q: What are three textbooks definition of economics?

A: Economics is a science that studies the efficient production, allocation, and distribution of scarce...

Q: What is a foreign trade deficit or surplus? How does this affectinterest rates?

A: Foreign trade refers to the trade between two or more countries and trade includes the services of e...

Q: How did the Wagner Act affect the balance of powerbetween unions and employers?

A: Wanger Act, typically known as NLRA (National Labour Relation Act), is the important labour legislat...

Q: Solve it correctly question (d) parts early.

A:   Meaning of Quantity Demanded and Quantity Supplied: Demand for a commodity is always expressed wit...

Q: "If the market demand curve increases, the new equilibrium will be: A.    A higher market price and ...

A: Let us suppose that initially the demand curve was D1 and the equilibrium price & quantity is P1...

Q: a) What is the per unit cost of the product? b) What are the demand and inverse demand functions? No...

A: "Since you have asked multiple parts, we will answer only first three parts for you. If you have any...

Q: Differentiate between screening andsignaling and describe some applications of each.

A: The problem of asymmetric information is one of the major reasons behind the occurrence of inefficie...

Q: What types of investments and expenditures are typically considered in the capital budgeting process...

A: Capital budgeting refers to the process that estimates the expenditure and benefits that derived fro...

Q: Of the following functions of physical inventory, select the one that purchasing is mostlikely to be...

A: Inventories are the products available for sale and the raw materials used to make goods for sale.

Q: Need help

A: A country has a comparative advantage in producing potatoes or tea if the opportunity cost (OC) of p...

Q: According to data from Yelp, more than 55 percent of the 132,500 businesses listed on the site that ...

A: A decline in the aggregate output of an economy is referred to as an economic contraction. An econom...

Q: 4. What are the four supply factors of economic growth? What is the demand factor? What is the effic...

A: Supply of a commodity is the relationship between the price of the commodity and the willingness of ...

Q: Q) The Barrington T-shirt Company recently raised the price of its shirts from $2.50 to $3.00. At th...

A: Answer: Introduction: According to the question, the price of the T-shirt has increased from $2.50 t...

Q: predict the impact of equilibrium price and quantity for the relevant markets given the following ch...

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for y...

Q: Bill is a professional photographer. His camera is broken, and he needs a new one within the next ho...

A: Willingness to pay (WTP) shows the maximum price that the buyer or consumer is ready to pay to get a...

Q: 7. Explain the situation when the firm under Perfect Competition continues production in the short r...

A: Under the perfect competition, firms are price takers. The price of goods and services determined by...

Q: Voting for president and other elections. What does it mean to vote?

A: Voting refers to the fundamental process in the democratic system. It is a chance for the citizens o...

Q: An increase in criminal activity in South Africa acts as a deterrent to foreign tourists considering...

A: Exchange rate refers to the rate at which two or more currencies are valued and exchanged according ...

Q: If the demand, q , is q = V 1600 – 4 p² , (a) Find the Elasticity, E , in terms of p. (b) If the pri...

A: We know, Price Elasticity = (dQ /dP )X(P /Q )

Q: Give two examples other than oligopoly that show how the prisoners' dilemma helps to explain behavio...

A: Oligopoly is a market form which has few sellers and the price and the output policy are decided by ...

Q: Economics Question

A: As we answer the 3 sub parts and no particular sub part is mentioned so we will answer first 3 sub p...

Q: What posssible social advantages of price increases arise in the following cases? a. Charging higher...

A: ANSRaising the price of a good will make the good costlier and thus it will reduce the consumption o...

Q: Suppose the production function is given by Y = K0.4 L0.6, where K is amount of land and L is amount...

A: Part A) The production function is given in the question, putting the value of L and K which is iden...

Q: Define zero-sum game?

A: Answer - Game theory - It is the study of decision making by individual or individuals in the given ...