Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Business Economics Expert

Determination of inverse demand function, shift on the demand curve, elasticity of demand and supply and equilibrium price and quantity. Revenue and elasticity. Cross price elasticity of demand.

 

Your technical staff estimates the model of sales (units not revenue) for your product presented Sales = 28.0-4.29 price + 4.59 rival\'s price + 0.85 pop in region + 0.25 per cap income +1.09% pop<18+0.85 ad $.
The current values of the variables are:

Units
current value
 
Price
$
12.00
Ruvals price
$
12.25
Population in region
1000
10.00
Per capital income
$1.000
22.60
% of population<18yrears
#
15.00
Advertising
$1.000
20.000

1. Illustrate what is the following for the demand curve also taking into account the values of thye variable? The inverse demand curve?

2.Illustrate what is your price elasticity of demand? If you raise yopur price, will your total revenue rise or fall?

3.If your product's cross price elasticity of demand? Does its magnitude make sense, compared to your product's own price elasticity? What is your product\'s elasticity of demand with respect to advertising expenditures?

4.What is your product's cross-price elasticity of demand? Does its magnitude make sense, compared to your product's own price elastisity? What is your product\'s elasticity of demand with respect to advertising expenditures?

5.What is coustomer surplus from ur product? Might this represent a bussiness opertunity for your firm? describe intivuduality.

6.What kinds of bussiness decission could be usefully aided by the kind of information contained in the demand curve and data above?

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M922569

Have any Question? 


Related Questions in Business Economics

In the united states as in most countries we value the

In the United States, as in most countries, we value the benefits of a free and competitive market. This suggests an interesting question: what if there were to be no Antitrust laws or other regulations on business activ ...

1what is the production possibilities curve and how is it

1. What is the production possibilities curve and how is it useful? 2. What 4 factors contribute to determining any point in this model? 3. How would we apply this framework to the real world? 4. You are planning to expa ...

What is the relationship between economy business and

What is the relationship between economy, business, and society? -6 page essay (includes only ONE page for references,but the cover page is not included in the 6 page requirement) -Double spaced -APA format

1 there is a small country whose domestic demand and supply

1) There is a small country whose domestic demand and supply for a good x are given below (where P is the price of X) [drawing a demand and supply graph may be helpful to you, but is not required.] D: P=100-Q S: P=10+2Q ...

Assignmentpart idirections please write a paper that is at

Assignment PART I Directions: Please write a paper that is at least two to three pages in length in which you address the questions below. Write your paper in APA format with at least one cited scholarly reference. Revie ...

Assignmentmoral and ethical requirements should serve as

Assignment Moral and ethical requirements should serve as drivers which encourage a business to invest in or spend money on cybersecurity products, services, and programs. You have been invited to participate in a "light ...

Cite the sources used to answer this question provide the

Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references. 1) Class, is it possible for a business to show an accounting profit, but actually earn ...

Assignment -consider the following cobb douglas production

Assignment - Consider the following Cobb Douglas production function where Y is maize output, X 1 is labour input, and X 2 is the capital. Data for estimating this equation is given in the Table below. Y = β 0 X 1i β_1 X ...

Assignmentinstructions1 select an illegal activity and

Assignment Instructions 1. Select an illegal activity and transform/mask its' true purpose with the disguise of a legitimate business operation. In other words, create a start-up business that would be viewed as a legal ...

Free trade and restricted trade - benefits and cost1-2

Free Trade and Restricted Trade - Benefits and Cost 1-2 paragraphs APA format/ no plagarism Using your own words, define both free and restricted trade. What do you feel are the benefits and the cost to having free trade ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen