Consider the elasticity of supply. in the short run a, Ask an Expert

Economics

Q. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1.0). So elucidate how many popsicles will be sold each day in the short run if the price rises to $2 each? In the long run, a price increase from $1 to $2 has an elasticity of supply of 1.50. So elucidate how many popsicles will be sold every day in the long run if the price rises to $2 each?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9170601

Have any Question?Write your Review or question?

Related Questions in Business Economics

At a college the scores on the chemistry final exam are

At a college the scores on the chemistry final exam are approximately normally distributed, with a mean of 75 and a standard deviation of 15. The scores on the calculus final are also approximately normally distributed, ...

A random sample of 19 college mens basketball games during

A random sample of 19 college? men's basketball games during the last season had an average attendance of 5,046 with a sample standard deviation of 1,753. a. Construct a 99?% confidence interval to estimate the average a ...

Red bull is the most popular energy drink in sales in the

Red Bull is the most popular energy drink in sales in the United States. Red Bull GmbH (the parent company) has observed that daily sales are normally distributed with an average of 6,329,903 drinks sold with a standard ...

Identify a recent mergeracquisition and use it to and

Identify a recent merger/acquisition and use it to and explain: was the merger/acquisition predominately about gaining economies of scale or economies scope?

The twin crises what are the causes of banking and

The Twin Crises: what are the Causes of Banking and Balance-of-Payments Problems?

You are the sales manager supervising a sales force of

You are the sales manager supervising a sales force of three in a kitchen appliance department. You are considering changing the compensation and would like to know if there is a significant difference in sales among the ...

A how can use the criteria for evaluating alternative

a) How can use the criteria for evaluating alternative methods of government finance to assess the most important revenue proposals of the 2018/19 budget. b) In the case tax is most important revenue proposals of the 201 ...

You work for a firm that manufactures dvd players your dvd

You work for a firm that manufactures DVD players. Your DVD players last an average of 800 days with a standard deviation of 200 days. You want to set the warranty length such that you only have to replace 1.5% of all th ...

What is the difference between a positive economic

What is the difference between a positive economic statement and a normative one

Suppose a life insurance company sells a 230000 one-year

Suppose a life insurance company sells a $230,000 ?one-year term life insurance policy to a 20?-year-old female for ?$330. The probability that the female survives the year is 0.999642. Compute and interpret the expected ...

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

Recent Questions

Ask Business Economics Expert