Q1 would elasticity be constant for the demand curve, Ask an Expert

Economics

Q1. Would elasticity be constant for the demand curve represented by the equation Q=5000-0.5p?why

Q2. If the cost function for John's Shoe Repair is C (q)=100+10q-q^2+(1/3)q^3, Illustrate what is the firm's marginal cost function? Illustrate what is its profit-maximizing condition if the market price is p? Illustrate what is it's provide curve?

Q3. The president of your college believes that the cost of a college education is far too expensive for students to afford and has decided to cut the tuition by 5 percent for all students. As a result, enrollment increased by 15%. Illustrate what happened all else constant, to your institution's revenues? Why?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9724854

Have any Question?Write your Review or question?

Related Questions in Business Economics

Discuss the benefits and challenges of developing

Discuss the benefits and challenges of developing center-based learning environments.

What are the main things to remember about elasticity

What are the main things to remember about elasticity, supply and demand, tax incidence, government controls on the market, and economic theories?

Riditna paper withdraws river water for use in its paper

Riditna Paper withdraws river water for use in its paper mill, and returns it, along with waste effluent, back into the river. (Effluent is a co-product of Riditna's paper, such that production of each ream of paper gene ...

Given two eventsnbspgnbspandnbsph the probabilities of

Given two events G and H , the probabilities of each occurring are as follows: P( G ) = 0.22; P( H ) = 0.34; P( H AND G ) = 0.09. Using this information: Find the complement of P ( H AND G ). Round to 2 places.

Off the production line there is a 46 chance that a candle

Off the production line, there is a 4.6% chance that a candle is defective. If the company selected 50 candles off the line, what is the standard deviation of the number of defective candles in the group?

An urn contains 5 red and 10 blue balls balls are drawn

An urn contains 5 red and 10 blue balls. Balls are drawn sequentially from urn without replacement. Let X be the number of draws necessary in order to obtain exactly 4 red balls. Find probability mass function of X

1 a firms marginal rate of technical substitution atm p lm

1) A firm's marginal rate of technical substitution at M P L/M P = 3, and the ratio of prices of labor and capital ,w/r, is 4. a) Is the firm minimizing its cost? Why or Why not? b) What can it do to improve its situatio ...

In a large university 68 of students live in dormitories a

In a large university, 68% of students live in dormitories. A random sample of 14 students is selected. What is the probability that the sample contains more than five students who do not live in the dormitories?

1 the following table shows the prices and quantity

1. The following table shows the prices and quantity demanded of Alberta wheat in 2014 and 2015. The change in 2012 resulted from exceptional weather, resulting in a bumper crop. 2014 2015 Bushels demanded 1.74 billion 1 ...

1 lisa and david have been married for two years they have

1. Lisa and David have been married for two years. They have just decided that summer of 2020 should be spent in Switzerland. They figured out that in order to meet the cost of the entire vacation they would only have to ...

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