Calculate the coefficient of price elasticity midpoints, Ask an Expert

Economics

Q. Consider the following information about a business Diane opened last year: price = $4, quantity sold =10,000; implicit cost = $14,000; explicit cost = $20,000. What was Diane's economic profit?

Q. Suppose the price of apples goes up from $22 to $25 a box. In direct response, Goldsboro Farms supplies 1500 boxes of apples instead of 1000 boxes. Calculate the coefficient of price elasticity (midpoints approach) for Goldsboro's supply.

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M9280430

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