All of the following might explain a firm offering quantity discounts except: a. lower costs of handling large orders. b. an inelastic demand for the good. c. monopoly power in this market. d. existence of some high and some low demand consumers.
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- Output (Units) PRICE Total Revenue 1 50 2 45 3 40 4 35 5 30 Q1. The law of demand apply in the values of table. Fill the table with the help of given information.The X-Corporation produces a good (called X) that is a normal good. Its competitor, Y-Corp., makes a substitute good that it markets under the name Y. Good Y is an inferior good. a. How will the demand for good X change if consumer incomes decrease? b. How will the demand for good Y change if consumer incomes increase? c. How will the demand for good X change if the price of good Y increases? d. Is good Y a lower-quality product than good X? Explain.a) Suppose the price of flour increases from $0.60 to $1.10 a pound and the quantity demanded decreases from 100 pounds to 60 pounds. Using the midpoint method, what is the price elasticity of demand for flour? Is the demand for flour elastic or inelastic? b) A 15 percent increase in income brings about a 25 percent decrease in the demand for a good. What is the income elasticity of demand and is the good a normal good or an inferior good?
- Suppose you have the demand (schedule or curve) for bottled water for 100 individuals. In order to represent (market) demand for all 100 consumers, you should add their individual ______________ at each _____________ . Group of answer choices prices, quantity demanded quantities demanded, price willingness to pay, price demand, quantityA firm produces a steel bar. When the price of the steel bar is $ 30,000, the quantity demanded is 8 metric tons, a 100% change in the price would change the quantity demanded by 25%. 1. What is the price function of demand of the firm? 2. What is the total revenue function of the firm? 3. At what production output should the firm produce to maximize its total revenue?5 Answer everything, no matter if I did some of it. I may be wrong. Dropdown options: decrease/increase & demand/supply PLEASE GIVE HONEST ANSWERS!
- 7. Traditional taxi operates with a fixed fare structure but ride-hailing apps use surge pricing with variable pricing. In particular, the fares can increase significantly during peak periods. Some commuters complain that surging pricing during peak periods harms consumers' interest. Do you agree? Explain in full sentences using supply and demand graphs for rides.What does price elasticity of supply measure? how responsive price is to a change in quantity supplied how responsive quantity supplied is to a change in price how responsive price is to a change in quantity demanded how responsive supply is to a change in price If the price elasticity of supply for zinc is 0.550.55, then the price elasticity of supply for zinc is unit elastic. perfectly inelastic. relatively inelastic. relatively elastic. perfectly elastic.U.S. pharmaceutical companies charge different prices for prescription drugs to buyers in different nations, depending on elasticity of demand and government-imposed price ceilings. Explain why these companies, for profit reasons, oppose laws allowing re-importation of drugs to the United States.
- 25. According to the following points on a demand curve, which would be the ideal price for a company to sell its product to get the maximum amount of revenue or total income before substituting cost? A. At $75, the quantity demanded per month is five. B. At $50, the quantity demanded per month is 10. C. At $100, the quantity demanded per month is two. D. At $25, the quantity demanded per month is 12.An upward sloping supply curve can be explained by the fact that _______________________. I Higher prices mean greater profits for a producer II Eventually, costs rise as production increase resulting in higher prices III Consumers finds goods more valuable at higher prices. I only II only I and II I, II and IIIFill in the blanks for each price-quantity combination listed in the following table. What relationship have you depicted? Price P Q Elasticity Total Revenue $9 1 $8 2 ________ ___________ $7 3 ________ ___________ $6 4 ________ ___________ $5 5 ________ ___________ $4 6 ________ ___________ $3 7 ________ ___________ $2 8 ________ ___________ I'd like full answer, i really appreciated