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A: The formula to calculate elasticity using the arc method: E = (Q2-Q1)/(Q2+Q1)(P2-P1)/(P2+P1) so we…
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A: Midpoint method is one of the method used to find out the elasticity.
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Are refridgerators elastic or inelastic? State determinants that support guess.
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- A large company in the communication and publishing industry hs quantified the relationship between the price of one of its products and the demand for this product as Price = 160 -0.01 xDemand for an annual printing of this particular product. The foxed costs per year (ie. per printing) = $4T 000 and the variable cost per unit = $35. What is the maximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not expected to be more than 7,000 units per year. The maximum profit that can be achieved is S. (Round to the nearest dolar.) The unit price at the point of optimal demand is S per unit (Round to the nearest cent)A(n) variable is calculated from within the model. A(n). endogenous; endogenous endogenous; exogenous exogenous; endogenous exogenous; exogenous none of the above variable can never be taken as given.The presence of Heteroscedasticity can be investigated by using... .
- Explain probability and nonprobability samplingtechniques.Shrinkage estimators are unbiased. are BLUE (i.e. Best Linear Unbiased Estimator). in general have a causal interpretation. shrink the estimator.The soft goods department of a large department store sells 184 units per month of a certain large bath towel. The unit purchase cost of a towel to the store is $2.5 and the cost of placing an order has been estimated to be $11. The store's inventory carrying cost is 33% of the purchase cost of the goods. Suppose that the demand rate is a constant and the EOQ model is used. What is the optimal annual cost of placing orders and holding inventory?
- Determine which model is to selected.... Without plagiarismWhat is sampling? Explain the differences between probability and nonprobability samples and identify the various typesof eachQd=250-2P+5Y Qs= 100-4P+2A Y=12, A=4 a. Is Qd endogenous or exogenous? b. Is P endogenous or exogenous? c. Is A exogenous or exogenous?
- (a) The sales of a book publication are expected to grow according to the functionS = 300000(1 − e−0.06t), where t is the time, given in days.(i) Show using differentiation that the sales never attains an exact maximum value.(ii) What is the limiting value approached by the sales function?(b) A poll commissioned by a politician estimates that t days after he makes a statementdenegrating women,the percentage of his constituency (those who support him at the time hemade the statement) that still supports him is given by S(t) =75(t2 − 3t + 25)t2 + 3t + 25The election is 10 days after he made the statement.(i) If the derivative S’(t) may be thought of as an approval rate, derivate the a functionfor his approval rate.(ii) When was his support at its lowest level?(iii) What was his minimum support level?(iv) Was the approval rate positive or negative on the date of the election?(c) Lara offers 100 autograph bats. If each is priced at p dollars, it is that the demand curvefor the bast will be…Use bordered determinants to check the following functions for quasiconcavity and quasiconvexity: a) Z=−x2−y2(x,y>0) b) Z=−(x+1)2−(y+2)2(x,y>0).Over a relatively short time horizon demand for petrol is likely to be inelastic with respect to price. But over the longer term, as motor vehicle owners have the scope to change to other types of fuel such as gas, demand for petrol will be more elastic with respect to price. Group of answer choices! aTrue b.False