Refer to the figure below: Use the estimated elasticities to calculate the Rothschild index for each industry. Instruction: Enter your responses rounded to three decimal places. Own Price Elasticity of Market Demand Own Price Elasticity of Demand for Representative Firm's Product Rothschild Industry index Agriculture -1.8 -96.2 Construction -1.0 -5.2 Durable manufacturing -1.4 -3.5 Nondurable manufacturing -1.3 -3.4 Transportation -1.0 -1.9 Communication and utilities -1.2 -1.8 Wholesale trade -1.5 -1.6 Retail trade -1.2 -1.8 Finance -0.1 -5.5 Services -1.2 -26.4

Refer to the figure below: Use the estimated elasticities to calculate the Rothschild index for each industry. Instruction: Enter your responses rounded to three decimal places. Own Price Elasticity of Market Demand Own Price Elasticity of Demand for Representative Firm's Product Rothschild Industry index Agriculture -1.8 -96.2 Construction -1.0 -5.2 Durable manufacturing -1.4 -3.5 Nondurable manufacturing -1.3 -3.4 Transportation -1.0 -1.9 Communication and utilities -1.2 -1.8 Wholesale trade -1.5 -1.6 Retail trade -1.2 -1.8 Finance -0.1 -5.5 Services -1.2 -26.4

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter15: Imperfect Competition

Section: Chapter Questions

Problem 15.10P: Inverse elasticity rule Use the first-order condition (Equation 15.2 ) for a Cournot firm to show...

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