Question the demand for boobles can be written as q 11000, Ask an Expert

Economics

Question: The demand for boobles can be written as: Q = 11,000 - 8P.

- Calculate the price, quantity, total revenue and marginal revenue when the elasticity of demand = -2.2.

- Calculate the price, quantity, total revenue and elasticity of demand when MR = $60.

- Calculate the price and quantity at which total revenue is a maximum. What is maximum revenue?

View complete question

Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M92586470

Have any Question?Write your Review or question?

Related Questions in Microeconomics

Question some economists and politicians have suggested

Question: Some economists and politicians have suggested that in future years, the concept of the common European currency be extended to include those smaller countries previously under Soviet domination. What would be ...

Question suppose that the table presented below represents

Question: Suppose that the table presented below represents production and cost data from a single firm. The table displays the level of labor (L) and capital (K) chosen by the firm in each year from 2009-2017, along wit ...

Question despite airport precautions x hijacked an airplane

Question: Despite airport precautions, X hijacked an airplane in Chicago and forced the pilot, crew, and passengers to fly to New York. Upon reaching New York, X shot the pilot before giving up and surrendering to the Ne ...

Question traders in asset markets suddenly learn that the

Question: Traders in asset markets suddenly learn that the interest rate on dollars will decline in the future. Use a diagram to show the new equilibrium, assuming current interest rates on dollar and euro deposits do no ...

Question 1 consider the following utility function and

Question: 1. Consider the following utility function and corresponding marginal rate of substitution for consumption, C and leisure, and L: U = CL square ( just the L is square, the C is normal) and MRS = - L/2C . The co ...

Question what were the fiscal policies from 2000-2010 and

Question: What were the fiscal policies from 2000-2010 and how were they related to macroeconomics? What were the fiscal policy actions and how did it impact the economy through the decade? The response must be typed, si ...

Question during past recessions housing prices generally

Question: During past recessions, housing prices generally rose much less than usual, and fell in real terms. Yet in the 2001 recession, housing prices rose much more than average. What factors caused them to rise so rap ...

Question the total assets at the beginning of the year for

Question: The total assets at the beginning of the year for company XYZ was $60,000 and total liabilities of $40,000. During the year the business recorded $100,000 in revenues, $55,000 in expenses, and dividends of $10, ...

1 intertemporal trade and durable consumption goodssuppose

1. Intertemporal trade and durable consumption goods Suppose that a representative individual in a small open economy lives for infinite periods. The individual enters each period t(t = 0, 1, 2, ...) holding foreign asse ...

Assignment consumer demand analysis and estimation applied

Assignment: Consumer Demand Analysis and Estimation Applied Problems Please complete the following two applied problems: Problem 1: Patricia is researching venues for a restaurant business. She is evaluating three major ...

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 Microeconomics Expert