Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Microeconomics Expert

Skip's Seal coating Service increased its total monthly revenue from $12,000 to $13,500 when it raised the price of driveway repairs from $600 to $750. The price elasticity of demand for Skip's Seal coating Service is

A) 2.11 B) 0.11 C) 1.12 d) 0.47

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M91229794

Have any Question?


Related Questions in Microeconomics

Question the material in this chapter did not focus on

Question: The material in this chapter did not focus on different methods of predicting inflation because the core rate has changed very little since 1982. The biggest change has been 1.1%, and the average change has bee ...

Question if the government decides to tax the consumption

Question: If the government decides to tax the consumption of cigarettes, (suppose there was not one on the market before) what will happen in the market for cigarettes? (Notice: This is a tax on CONSUMPTION not producti ...

Question a local business owner tells you economics is

Question: A local business owner tells you economics is wrong because people do not respond to incentives. She tells you that she increased all of her employees' pay by 10 percent and they did not work any harder. Is her ...

Question if economists generally agree that fixed-weight

Question: If economists generally agree that fixed-weight price indexes overstate the actual rate of inflation, why is the CPI still the most popular and widely quoted measure of inflation? The response must be typed, si ...

Question a risk-averse economic agent with a yearly income

Question: A risk-averse economic agent with a yearly income off $100,000 inherits a vineyard. In dry years, the vineyard's harvest is worth $100,000; in wet years, the vineyard's harvest is worth $20,000. Each year there ...

Question an auto repair shop is considering purchasing

Question: An auto repair shop is considering purchasing automated paint-spraying equipment. The company estimates that the equipment will last five years. Each year, it will save the company $4,000 in paint wasted in the ...

Question what is the peter principle why does it occur and

Question: What is the Peter Principle? Why does it occur and what are some of the consequences? What are some ways to avoid these undesirable outcomes (hint, in class we had three methods to resolve problems internal to ...

Question every year you deposit exist7200 into an account

Question: Every year you deposit exist7,200 into an account that earns 4.5% interest per year. What will be the balance of your account immediately after the 14th deposit? (Enter your answer as a number without the dolla ...

Explain briefly but clearly the times when a demand curve

Explain briefly but clearly the times when a demand curve moves. When is there movement along the demand curve?

Question radio stations tornado sirens light houses and

Question: Radio stations, tornado sirens, light houses, and street lights are all public goods in that all are nonrivalrous and nonexclusionary. Therefore why does the government provide tornado sirens, street lights and ...

  • 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