- Questions
- Managerial economics
Suppose a demand function is given by Q=10P^-0.5Y^0.75. Calculate the price elasticity of demand and income elasticity of demand.
- 👍
- 👎
- 👁
- ℹ️
- 🚩
Answer this Question
Related Questions
-
social studies
How does opportunity cost affect people's wants and needs? A. It changes the supply and demand of goods. B. It requires them to make a choice. C. It requires them to be producers and consumers. D. Opportunity cost does not impact wants and needs. When
-
Econ
You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is -1.8.
-
Economics
I think I get this but could use some guidance to make sure, I am having problems with 2e). 1)In an article about the financial problems of USA Today, Newsweek, reported that the paper was losing about $20 million a year. A Wall Street analyst said that
-
MATHEMATICS Please help me
The demand function for a good is q = 56.6 − 0.25p − 0.03m + 0.45ps + 0.6n where q is the quantity demanded per week, p is the price per unit, m is the average weekly income, ps is the price of a competing good and n is the population in millions.
-
economics
supose the following demand and cost function of duopoly firm x=40-0.2p where x=x1+x2 c1=50+2x1+0.5x12 c2=100+10x2 drive riaction function find cournot equilibrium quantity and price calculate the equilubrium price and output of each firm assume firm 1 is
-
economics
Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average total cost of $50 per unit. a.Find the monopolist’s profit-maximizing output and price.
-
Algebra
If the demand function for a commodity is given by the equation p2 + 16q = 1200 and the supply function is given by the equation 300 − p2 + 6q = 0, find the equilibrium quantity and equilibrium price.
-
calculus
Use the demand function X=325(1-(6p/7p+4)) to find the rate of change in the demand x for the given price p=$5.00. Round your answer to two decimal places. A. 5.13 UNITS PER DOLLAR B. -0.85 UNITS PER DOLLAR C. 0.85 UNITS PER DOLLAR D. 1.35 UNITS PER DOLLAR
-
Calculus/math
Suppose that the demand function for a consumer item is given by q = D(p) = 411 - 3p where p is the price in dollars for one item and q is the number of units. If the marginal revenue is 5 dollars per each item that's made and sold, then to the nearest
-
Economic
Suppose that labor is the only input used by a perfectly competitive firm that can hire workers for $50 per day. The firm’s production function is as follows: Days of Labor/Units of Output: 0/0, 1/7, 2/13, 3/19, 4/25, 5/28, 6/29, 7/29 c. Compute the
Still need help?
You can ask a new question or browse existing questions.