Question

Given a demand curve of Q=100−4P: 1st attempt Part 1 (1 point)See Hint Calculate the price at which demand is unit elastic. This price is $ . (Round your answer to two decimal places.)

Part 2 (1 point)See Hint Find the quantity where demand is unit elastic. This quantity is 25 units . (Round your answer to two decimal places.)

Part 3 (1 point)See Hint At quantities lower than the value found in Part 2, the demand curve is Choose one: A. perfectly inelastic. B. relatively elastic. C. relatively inelastic. D. perfectly elastic.

Part 4 (1 point)See Hint At quantities higher than the value found in Part 2, the demand curve is Choose one: A. perfectly inelastic. B. relatively elastic. C. perfectly elastic. D. relatively inelastic.

Answer #1

Given a demand curve of Q=100−4P: Calculate the price at which demand is unit elastic.

When demand is unit elastic, ed = 1

ed = dQ/dP * P/Q

-1 = -4 * P/Q

0.25Q = P

0.25*100 - 0.25*4P = P

25 = 2P

P = 12.5

Hence the price is $12.5

Part 2 The quantity where demand is unit elastic is 100 - 4*12.5 = 50 units

Part 3 At quantities lower than the value found in Part 2, the demand curve is B. relatively elastic

Part 4 At quantities higher than the value found in Part 2, the demand curve is D. relatively inelastic.

Below this is because along the demand function the elasticity continues to decline in value which means for earlier quantities the demand elasticity is very high and for higher quantities demand elasticity is very low

Given a demand curve of Q=100−2P.
1.Calculate the price at which demand is unit elastic. This
price is___ (Round your answer to two decimal places.)
2. Find the quantity where demand is unit elastic. This quantity
is___ (Round your answer to two decimal places.)
3.At quantities lower than the value found in Part 2, the demand
curve is
Choose one:
A. perfectly elastic.
B. relatively elastic.
C. relatively inelastic.
D. perfectly inelastic.
4.At quantities higher than the value found in...

For the demand curve Q=50−P, what is the own-price elasticity of
demand when P=16 2/3 (that is, 50/3)? Is demand elastic, inelastic,
or unit elastic at that point?
a) -0.5, inelastic
b) -1, unit elastic
c) -0.5, elastic
d) 33.3, inelastic
e) 33.3, elastic

1. When the price of a given type of hamster chow increased by
25%, 25% more units were produced and sold. Calculate the
appropriate elasticity. You will interpret this answer in the next
question.Enter only numbers, a decimal point, and/or a negative
sign as needed. Round all intermediate steps to four decimal places
and your final answer to two decimal places.
2.
The previous question was describing
Group of answer choices
relatively elastic price elasticity of supply
unit elastic price...

1/Consider the demand curve Q=100-50P. Draw the demand curve and
indicate which portion of the curve is elastic, which portion is
inelastic, and which portion is unit elastic.
2/
Suppose the demand for crossing the Golden Gate Bridge is given
by Q=10,000 – 1000P.
If the toll (P) is $3, how much revenue is collected? (15
points)
What is the price elasticity of demand at this point? (10
points)
Could the bridge authorities increase their revenues by changing
their price?...

4A
The price elasticity along a negatively sloped linear demand
curve
1 changes at every point
2 is less than 1
3IS INFINITE
4 is equal to 1
5 is zero
28A
If demand curve is more elastic relative to supply
sellers pay a larger portion of the excise tax.
B.
consumer price increases by the amount of the tax.
C.
entire burden of the tax is borne by the sellers.
D.
sellers pay a smaller portion of the excise...

The price of a large pizza decreased from $18.00 to $14.00. As a
result, the quantity demanded of skateboards increased from 250.00
to 270.00.
1st attempt
Part 1 (1 point)
See Hint
Using the midpoint formula, what is the percentage change
observed for the price of a large pizza? Give your answer to two
decimal places.
%
Part 2 (1 point)
See Hint
Using the midpoint formula, what is the percentage change
observed for the quantity demanded of skateboards? Give your answer...

The market demand curve for a product is given below: QD = 250 –
0.5P
(1) Assume that the market is supplied by a monopolist with a
constant unit cost equal to $100. Calculate the equilibrium price
and quantity.
(2) Now assume that the market is supplied by perfectly
competitive firms and that the market supply curve is perfectly
elastic at a price equal to $100. Calculate the equilibrium price
and quantity.

Complete Part 1 and 2 below:
Part 1:
Suppose the market demand curve for a product is given by
Q=800-10P. Which statement is true?
the demand for this product is unit-elastic when P=30
more than one of the other options
the price elasticity of demand for this product can be written
as a function of P
the price elasticity of demand for this product is a
constant
Part 2:
Suppose the market demand curve for a product is given by...

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2. An industry in which one firm can supply the entire market at
a lower price than two or more firms can is called a
a. legal monopoly
b. single-price monopoly
c. natural monopoly
d. price-discriminating monopoly
3. Suppose excellent weather leads to a...

____ 40. The price elasticity of a vertical demand curve is
always
a. infinitely large.
b. zero.
c. one.
d. increasing as price increases.
____ 41. Along a perfectly elastic demand curve,
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b. the price elasticity of demand is 1.
c. consumer purchases will not respond at all to a change in
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d. All of the above are true.
____ 42. A price cut will increase the revenue a firm receives
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