+1-415-315-9853

info@mywordsolution.com

## Economics

 Basic Economics Macroeconomics Microeconomics Business Economics Econometrics International Economics Managerial Economics Game Theory Public Economics

The demand for eggs is estimated by
x=10000+.00002I - 2000px
where px is the price of eggs
i is the mean income of the area in thousands

Initially, i =50,000 and px =3.00

What is the elasticity of demand given the price and income combination?

Suppose the price goes up to \$4, using consumers surplus, estimate the welfare loss to consumers when the price goes from 3 to 4 with income fixed at 50,000

A demand function is x=100px ^-.5 I ^1/3 ..from this demand function, what is the elasticity of demand?

• Reference No.:- M926052

Have any Question?

## Related Questions in Business Economics

### Klingon widgets inc purchased new cloaking machinery three

Klingon Widgets, Inc., purchased new cloaking machinery three years ago for \$8 million. The machinery can be sold to the Romulans today for \$6.7 million. Klingon’s current balance sheet shows net fixed assets of \$3.1 mil ...

### Applying the principle of caesar cipher where k takes on a

Applying the principle of Caesar cipher, where k takes on a value in the range 1 to 25.The decryption algorithm is p = D(k, C) = (C - k) mod 26. Decrypt the following ciphertext. PHHW PH DIWHU WKH WRJD SDUWB.

### Property taxes in a particular district are 4 of the

Property taxes in a particular district are 4% of the purchase price every year. If you just purchased a \$250,000 home, what is the present value of all the future property tax payments? Assume that the house remains wor ...

### In an article titled gas prices dropping after last weeks

In an article titled, Gas prices dropping after last week's spike, that was published in The Atlanta Journal-Constitution newspaper on August 29, 2011, Mike Morris wrote: "After a spike last week as Hurricane Irene threa ...

### Compare and contrast the following pairs of termsa

Compare and contrast the following pairs of terms: a. aggregate demand; aggregate supply b. real wages; nominal wages c. short run; long run d. expansionary gap; recessionary gap e. adverse supply shocks; beneficial supp ...

### As a financial analyst you are tasked with evaluating a

As a financial analyst, you are tasked with evaluating a capital budgeting project. You were instructed to use the IRR method and you need to determine an appropriate hurdle rate. The risk-free rate is 4% and the expecte ...

### Florida citrus mutual an agricultural cooperative

Florida Citrus Mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the conditions below. What are your predict ...

### Making a java program with in which i to create a main in

Making a Java program with in which I to create a main() in it and another code file with a separate class. Also needs creating objects of the class in the running program. The system handles employee records and process ...

### In 2014 chesterfield industries had sales of 1200000 the

In 2014, Chesterfield Industries had sales of \$1,200,000. The company had operating expenses (including depreciation) of \$540,000, depreciation expense of \$82,000 and interest expense of \$54,000. Cost of goods sold was \$ ...

### Which one of the following statements concerning the

Which one of the following statements concerning the national defense authorization act is true? a. it is a resolution, not a law b. it provides budget authority for all program element numbers c. it establishes spending ...

• 13,132 Experts

## 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.

### A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

### What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

### Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

### Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

### Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate