Economics Homework Econ 101

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ynyn1234

Business Finance

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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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