Ask Question, Ask an Expert


Ask Business Economics Expert

Calculating own price and cross price elasticity values

The demand function for kingston's product is given by
logQ = 2.01 -0.148LogP + 0.25Log Z

Q = the quantity demanded (in tons) of its product, P = the price ( in dollars per ton), and Z = the price(in dollars of a rival product

a. find out the price elastic of demand

b. find out the cross elasticity of demand between kingston's product and the rival product.


Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M925575

Have any Question? 

Related Questions in Business Economics

Given p 32 - q firms cost is tc q2 24if government

Given P= 32 - Q, Firm's cost is TC = Q^2 + 24 if government regulates the maximum price monopoly can charge at $23: 1) What is the monopoly’s regulated demand curve? monopoly’s regulated MR curve? Regraph the chart here ...

Acording to the chief engineer at the zodiac company q

According to the chief engineer at the Zodiac Company, Q = ALK , where Q is the output rate, L is the rate of labor input, and K is the rate of capital input. Statistical analysis indicates (regression analysis) that = 0 ...

Consider the market for taxi service in washington dc use

Consider the market for taxi service in Washington, DC. Use demand-supply analysis to explain the effects (i.e., increase or decrease) on the equilibrium price and quantity from the following (you may consider each case ...

Consumers regard dell computers and gateway computers as

Consumers regard Dell computers and Gateway computers as substitutes. If the price of a Dell computer decreases a. the demand for Dell computers will increase b. the demand for gateway computers will increase c. the dema ...

Green futures operates a solar panel power generation

Green Futures operates a solar panel power generation facility in Florence, Alabama. The current field generates 10 million kilowatt hours per year, but every year production drops off by 1 million kilowatt hours, as dus ...

Sara shopper was buying groceries at tims top-notch grocery

Sara Shopper was buying groceries at Tim's Top-notch Grocery Store. The stock boys were stocking the shelves when they dropped a bottle of catsup. They moved to the next aisle, intending to clean up the catsup as soon as ...

Economics for business-economic growth - compare australia

Economics for Business- Economic Growth - Compare Australia with any other advanced economy or developing country and discuss their economic growth during last 5 years and its effects on the society. (Both positive and n ...

As the chief investment officer for a nyce place to work

As the Chief Investment Officer for "A Nyce Place to Work" you have been given the opportunity to invest in the Super-Tazer. It is a tazer, that when you push the button incapacitates everyone in a 10 foot radius of you. ...

Chrisrsquos outdoor furniture inc has net cash flows from

Chris’s Outdoor Furniture, Inc., has net cash flows from operating activities for the last year of $390 million. The income statement shows that net income is $365 million and depreciation expense is $49 million. During ...

A bank account pays 12 nominal interest with quarterly

A bank account pays 12% nominal interest with quarterly compounding. A series of deposits started with a deposit of $5,000 on January 1, 2012. Deposits in the series will occur each six months. The last deposit in the se ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate