Economics Homework Econ 101
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ynyn1234
Business Finance
Description
Economics hw , some may be repeat of same just want to make sure i posted it.
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Мар А.
Sapling Learning
macan learning
The following graph shows the linear daily demand curve for Poblano Burritos in Collegeville. Use the graph
to answer the questions. Round your final answers to at least two decimal places.
Number
Calculate the slope
between points A and B.
0
100
9
BE
B
7
Number
B
Calculate the slope
between points and D.
Price(s)
Demand
Number
C
0
D
1
Calculate the price elasticity
of demand (ED) between
points A and B using the
midpoint method.
Calculate the price elasticity
100 200 300 400 500 600 700 BOO900 1000 of demand (ED) between
points C and D using the
midpoint method.
Number
0
0
Quantity
Which statement about slope and
price elasticity of demand along a
linear demand curve is true?
Elasticity is constant, but slope varies.
Both slope and elasticity are constant.
Slope is constant, but elasticity varies.
Both slope and elasticity vary.
| Мар св.
Becky only eats out at Macaroni Grill and eats out 3 times per month. She receives a raise from $31,900 to
$33,500 and decides to eat out 5 times per month. Use the midpoint method to calculate the monthly income
elasticity of demand for eating out.
Round your answer to two decimal places.
Number
.
Units
This good is
a normal good and income-elastic.
a normal good and income inelastic.
an inferior good
Sylvia's annual salary increases from $102,300 to $109,500. Sylvia decides to increase the number of vacations
she takes from 3 to 4. Use the midpoint method to calculate her income elasticity of demand for vacations.
Round your answer to two decimal places.
Number
.
Units
This good is
a normal good and income-elastic.
a normal good and income-inelastic.
inferior good.
Маре
Sapling Learning
macmalaming
Use the line segment on the graph below to show a perfectly inelastic demand curve when the quantity
demanded is 4 units.
10
9
B
8
7
Demand
6
Price
ch
3
2
1
7
8
9
10
4 5 6
Quantity
There is a hint available!
View the hint by clicking on the
bottom divider bar. Click on the
divider bar again to hide the hint.
Close
macmalarning
The table below shows information on the conditions of demand of ordinary gummy bears and their sugar-
free version.
Price ($ per lb.)
Sugar-free Gummy Bears Regular Gummy Bears
Demanded (thousands of Demanded (thousands of
Ib.)
Ib.)
$2.40
179
483
$2.80
173
377
$3.20
155
271
$3.60
135
153
As the price of gummy bears rises from $2.80 to $3.20, what is the price elasticity of demand of (i) sugar-
free gummy bears and of (i) ordinary gummy bears? Use the midpoint method and specify answers to
one decimal place.
Number
(1) Elasticity of demand of
sugar-free gummy bears:
Number
.
(i) Elasticity of demand of
regular gummy bears:
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Please use calculations to prove your answer if the problem requires it.only six short questionsu can answer the questions ...
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