Q: marginal cost?
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- If you wanted to increase demand for your restaurant butare unable to lower prices or increase advertising, whatsteps might you take?You have data on Timon's quantity demanded for Bud Light beer and theirincome. According to this data when Timon's income rises by 6% theassociated change in their quantity demanded for Bud Light is 14%. Youdon't know if it is an increase or decrease in quantity demanded. Frompast research you know that Bud Light is an inferior good for Timon. Usethis information to calculate Timon's income elasticity of demand.Fast pls solve this question correctly in 5 min pls I will give u like for sure sini DETAILS If the demand function for a particular purse is p = 120 - 4√, use elasticity to find the price and corresponding quantity that maximize revenue. price dollars quantity purses
- You have data on Meena's quantity demanded for craft beer and theirincome. According to this data when Meena's income falls by 7% theassociated change in their quantity demanded for beer is 11%. You don'tknow if it is an increase or decrease in quantity demanded. From pastresearch you know that craft beer is a normal good for Meena. Use thisinformation to calculate Meena's income elasticity of demand.Income Effects depend on the income elasticity of demand for each good limit you buy. If one of the goods you buy has a negative income elasticity, that is, it is an inferior good, what must be true of the income elasticity of the other good you buy?pleassssee help me thank you
- Describe the need versus the want for a Samsung cellphone.rom California to New York, legislative bodies across the United States are considering eliminating orreducing the surcharges banks impose on non-customers, who make $14 million in withdrawals from otherbanks’ ATM machines. On average, non-customers earn a wage of $26 per hour and pay ATM fees of $3.25per transaction. It is estimated that banks would be willing to maintain services for 6 million transactionsat $1.50 per transaction, while non-customers would attempt to conduct 22 million transactions at thatprice. Estimates suggest that, for every 1 million gap between the desired and available transactions, atypical consumer will have to spend an extra minutes traveling to another machine to withdraw cash.(a) Based on this information, what would be the nonpecuniary cost of legislation that would place a$1.50 cap on the fees banks charge for non-customer transactions?(b) What would be the full economic price of this legislation?(c) Using a graph, illustrate the situation described…The shorter the period of time consumers have to adjust to price changes, the O lower; income O lower price O higher; income higher; price the elasticity of demand.
- will the demand for online paid tv increase in the future ?Income effects depend on the income elasticity ofdemand for each good that you buy. If one of the goodsyou buy has a negative income elasticity, that is, it is aninferior good, what must be true of the income elasticityof the other good you buy?What are 2 products with different price elasticities of demand, and how do you analyze how firms can use information about price elasticity of demand to their advantage?
