Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hi, I would like to ask for a help again, but in a different subject, hoping someone could help me with this, I'll appreciate it

Hi, I would like to ask for a help again, but in a different subject, hoping someone could help me with this, I'll appreciate it a lot. Would rate afterwards, thankyou in advance :))

image text in transcribedimage text in transcribedimage text in transcribed
Name: 1. Fill the table with the correct information. Types of Meaning Coefficient Graph Sample Product Elasticity of Demand Elastic Inelastic Unit Elastic Perfectly Elastic Perfectly Inelastic Meaning %4 P = % 4 OD %A P results to no % A QD - 9%AP % A OD %A P results extreme % A OD Coefficient Product = 1, =0, = .31, =2, oo clothes, jewelries, rice, gasoline, medicine D STATESFont Paragraph Styles II. Analyze the following situation, using the formula, find the price elasticity of demand and identify the type of elasticity. SITUATION COEFFICIENT TYPES OF ELASTICITY 1. You had cough and flu last month and the price of your medicine is P 10.00 per piece and you bought 10 pieces. However due to unpredictable weather this month, you again suffer from cough and flu and the price of your medicine now is P15.00 and you able to buy only 8 pieces. 2. At price P30.00, Anna can buy 2 pieces of soap. When its price decreases to P25.00, she can now buy 5 pieces of her preferred bar soap. 3. Mang Erning is suffering from diabetes; he needs insulin for his maintenance. Its price rises from P500 per 10 ml to P 700 per 10 ml. With this market price, he has no choice but to buy the prescribe dosage of his medicine Read the situation below and answer the following question. ( (UNITED STATES2. At price P30.00, Anna can buy 2 pieces of soap. When its price decreases to P25.00, she can now buy 5 pieces of her preferred bar soap. 3. Mang Emning is suffering from diabetes; he needs insulin for his maintenance. Its price rises from P500 per 10 ml to P 700 per 10 ml. With this market price, he has no choice but to buy the prescribe dosage of his medicine III. Read the situation below and answer the following question. The demand schedule for air fare below shows the demand of businessman and tourist based in Manila and Cebu. Price OD for Businessmen QD for Tourist P 1,500 3,100 950 P 2,000 3,000 750 P 2,500 2,900 550 1. As air fare increases from P2000 to P2500, what is the price elasticity for the a. Businessman: b. Tourist: 2. Why do you these two consumers have different price elasticity of demand? STATESS

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

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

Introduction To Health Care Management

Authors: Sharon B. Buchbinder, Nancy H. Shanks

3rd Edition

128408101X, 9781284081015

More Books

Students also viewed these Economics questions

Question

1. Send the student on an errand, or ask him or her for help.

Answered: 1 week ago