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1. What is the income elasticity of car as per capital income increases from, $10,000 to $11,000? The demand for car as a function of income per capital is given by the equation. Q= 50,000 +5(y).
eyerusalem
answered
2 years ago
2 years ago
eyerusalem
answered
2 years ago
2 years ago
3. Suppose Y company estimates the following total cost function from cost output data:
TC = $135,000 + $250Q + $1.5Q2. Find the optimum level of output that makes the company efficient and per unit cost (AC) at the rate of output.
eyerusalem
answered
2 years ago
2 years ago
5. Given the following demand function Q = 20 – 0.10p where p = price and Q = rate of output,
A, Complete the following table.
Quantity Price Total Revenue Average Revenue Marginal Revenue
1 190 190 190 -10
2 180 360 180 -10
3 170 510 170 -10
4 160 640 160 -10
5 150 750 150 -10
eyerusalem
answered
2 years ago
2 years ago
4. A monopolist's demand function is given by P = 80 – 4Q. The firm's total cost is given by TC = 10Q + Q2
A. What is the profit-maximizing price and quantity?
Kefelegn
answered
2 years ago
2 years ago
Lectures
mastewal dagnachew
answered
2 years ago
2 years ago
mmmmmmmmmmmmmmmm
JJJJ
answered
2 years ago
2 years ago
What is the income elasticity of car as per capital income increases from, $10,000 to $11,000? The demand for car as a function of income per capital is given by the equation. Q= 50,000 +5(y).
Tamirat M
answered
1 year ago
1 year ago
for the given of income I1=10,000 & I2=11,000 the corresponding quantity demand are Q1=100,000 and Q2= 105,000. there for using the standered formula income elastisity of demnad will be Ei=5 which is greater than 1 so the type of good is luxuries one.
lemma
answered
1 year ago
1 year ago
none
asmare tsega
answered
1 year ago
1 year ago