Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Economics


Home >> Microeconomics

Dakota Publishers prints coffee table photo books of the mountain states and Great Plains.  The marketing manager normally prices books at $35 each, and sales an average of 4,000 per month.  Last month, she had a sale and priced volumes at $22.50 each, selling 8,500 copies.  Compute the price elasticity for these books.  Explain how elasticity’s should be used in pricing decisions.  If you were responsible for setting the price of these volumes, what would you choose and why? 

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91227360

Have any Question?


Related Questions in Microeconomics

Question the american bakers association reports that

Question: The American Baker's Association reports that annual sales of bakery goods last year rose 15 percent, driven by a 50 percent increase in the demand for bran muffins. Most of the increase was attributed to a rep ...

Question a explain the import substitution

Question: a) Explain the import substitution industrialization strategy and outcomes both good and bad. b) Explain the export promotion industrialization strategy and outcomes both good and bad. The response must be type ...

Question pricing some personal computer software is sold at

Question: Pricing Some personal computer software is sold at special discounts to students. Other software is provided in a less powerful versions for students. Why do publishers offer discounts to students? What is the ...

Question suppose the federal government decides to levy a

Question: Suppose the federal government decides to levy a sales tax of $1.00 per pie on pizza. Briefly explain whether you agree with the following statement, made by a representative of the pizza industry: The pizza in ...

Question imagine the president of china xi jinping hires

Question: Imagine the president of China, Xi Jinping. hires you to advise him on how to increase the country's economic growth rate back up to about 9% annually from its current annual growth rate of about 6.5%. What wou ...

Question 1 why is tfc horizontal2 if the consumer income

Question: 1. why is TFC horizontal? 2. If the consumer income increase, show the impact on his budget line, assume the price not change. 3. Why is a seller under perfect competition market is a price taker? The response ...

Qestion two consumers hae identical utility functions uxy

Question: Two consumers hae identical utility functions, U(x,y) = Max(x,y). There are eight units of x and eight units of y. What are the pareto optimal allocations for this economy? Math not required (intuition question ...

Question joe is graduating from college and is currently

Question: Joe is graduating from college and is currently faced with a decision of choosing between two competing job offers for the same position from equally reputable companies. The jobs are in two different cities A ...

Question one study compared the performance of a single

Question: One study compared the performance of a single company's franchised and company-owned fast-food outlets on health inspections. It found that franchises received higher (i.e., better) average point scores on a s ...

Question consider two goods widgets and gzots which can be

Question: Consider two goods, widgets and gzots, which can be taxed to generate government revenue. The demand elasticity of widgets is 0.5 and of gzots is 1.2. For each good the supply elasticity is infinite (horizontal ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As

Follow Us

© Copyright 2013-14 mywordsolution.com All rights reserved