Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 04, 2024

At a price of $ 80, the quantity demanded of a given good is 200 units. If the price decreases to $ 45, the quantity

At a price of $ 80, the quantity demanded of a given good is 200 units. If the price decreases to $ 45, the quantity demanded increases to 225 units.

It asks: * 1. Calculate the price elasticity value. 2. Explain what type of claim it is. Explain in detail what managerial action corresponds to take, raise the price, lower it or leave it the same. 3. Make the graphic representation.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Entrepreneurship

Authors: Andrew Zacharakis, William D Bygrave

5th Edition

1119563097, 9781119563099

Students also viewed these Economics questions

Question

★★★★★

Explain the difference between the general ledger and a subsidiary ledger.

Answered: 1 week ago

Question

★★★★★

=+8. For the Gas prices of Exercise 6, the actual value for January 2007 was 2.321. Find the absolute percentage error of your forecast. Section 19.5

Answered: 1 week ago

Question

★★★★★

Examine an analyst report on Ford Motor Company. Who wrote the report? Outline the major contents of that analyst report. Where did you find this analyst report?

Answered: 1 week ago

Question

★★★★★

The financial statements included in the 2011 Form 10-k of Columbia Sportswear reported the following amounts (in thousands of dollars): Net sales, for the year ended December 31, 2011 $1,693,985...

Answered: 1 week ago

Question

★★★★★

4. Show that f (x , y = xy has no limit at (0,0) although limits exist along all lines. X

Answered: 1 week ago

Question

★★★★★

Bill Gate Company incurred costs for materials and conversion in the amount of P 45,000 and P 4,860 respectively. As of the same date, the work in process inventory in units of P 6,000 is 40%...

Answered: 1 week ago

Question

★★★★★

Budget cash receipts for the months of January, February, and March. Budgeted sales, all on account: November $ 65,000 December January February March 60,000 82,000 70,000 90,000 Collection of...

Answered: 1 week ago

Question

★★★★★

Given the following encoding rule for each letter: n 010 110 k 101 Suppose Alice want to encrypt and send "ok" (110 101)_to Bob using a one-time pad 101 111, so Bob will get the ciphertext as 011...

Answered: 1 week ago

Question

★★★★★

1.The standard price per unit is; Material 6 kg @Rp750; Labor 10 Hours @Rp480; BOP on the basis of 70% of Working Hours with a rate per working hour @Rp250 for variable BOP and fixed BOP budgeted is...

Answered: 1 week ago

Question

★★★★★

Developer Company is constructing a 2-Tower residential condominium. Tower 1 sells 20 units while tower 2 sells 30 units. Both towers will share in the common amenities and occupy the same land area....

Answered: 1 week ago

Previous Question Next Question