08:50 Morning Wed, 12 Jan ~ A MIDTERM EXAM AEC101 ... docs.google.com Test Ill Some Estimates of Elasticity With the given product below and corresponding estimated elasticity, please check whether the product is INELASTIC; ELASTIC or APPROXIMATELY UNITARY. 1. Foreign travel; PED = 4.0 * O Inelastic Elastic O Approximately Unitary 2. Movies; PED = 0.9 * O Inelastic O Elastic Approximately Unitary 3. Legal services, short-run; PED = 0.4 * O Inelastic O Elastic Approximately Unitary 4. Gasoline, short-run; PED = 0.2 * O Inelastic O Elastic Approximately Unitary 5. Restaurant meals; PED = 2.4 *08:50 Morning Wed, 12 Jan ~ A MIDTERM EXAM AEC101 ... docs.google.com 2. Movies; PED = 0.9 * O Inelastic O Elastic O Approximately Unitary 3. Legal services, short-run; PED = 0.4 * O Inelastic O Elastic Approximately Unitary 4. Gasoline, short-run; PED = 0.2 * O Inelastic O Elastic Approximately Unitary 5. Restaurant meals; PED = 2.4 * O Inelastic O Elastic O Approximately Unitary Back Next Clear form Never submit passwords through Google Forms. This content is neither created nor endorsed by Google. Report Abuse - Terms of Service - Privacy Policy. Google Forms08:50 Morning Wed, 12 Jan 0 A MIDTERM EXAM AEC'I Oi Richman Company operates With its overhead expenses per month fixed at P48,000. The company spends P32 on each ofthe product it produces but sells each at P52. 1. Find the company's profit if quantity produced is 1,500 units. loss = - P18,000 profit = P78,000 profit = - Pi 8,000 none of these profit = P18,000 2. What is the company's profit if it produces 3,200 units? profit = - Pi 50,400 loss = P16,000 profit = P16,000 none of these profit = P166,400 3. Find the company's break-even quantity. Q = 1,800 units 0 = 2,400 units none of these Q = 2,000 units Q = 3,000 units 08:50 Morning Wed, 12 Jan 0 A MIDTERM EXAM AEC'I 01 4. What quantity should the company produce so that it gains a profit of P42,000? none of these Q = 3,600 units 0 = 4,200 units Q = 4,500 units Q = 3,800 units 5. Find the average cost if quantity produced is 3,428 units AC = P45.20 AC = P46.00 AC = P46.80 AC = P47.20 none of these 6. What quantity will incur a loss of P310007 0 = 1,250 units 0 = 1,975 units Q = 500 units Q = 850 units none of these 7. Find the marginal cost quantity level of 2,250 units 08:51 Morning Wed, 12 Jan ~ A MIDTERM EXAM AEC101 ... docs.google.com 6. What quantity will incur a loss of P31,000? * O Q = 1,250 units O Q = 1,975 units Q = 500 units Q = 850 units none of these 7. Find the marginal cost quantity level of 2,250 units * O MC = P32 MC = P20 MC = P52 none of these MC = P84 8. Find the marginal profit quantity level of 3,600 units * O Mp = P32 none of these O Mp = P20 O Mp = P52 O Mp = P84 Back Submit Clear form Never submit passwords through Google Forms. This content is neither created nor endorsed by Google. Report Abuse - Terms of Service - Privacy Policy. Google Forms