Question: 2. Using the information in question # 1 above, assume you will charge on average $.40 per copy. A) Calculate your monthly revenue. B} Assume

2. Using the information in question # 1 above, assume you

2. Using the information in question # 1 above, assume you will charge on average $.40 per copy. A) Calculate your monthly revenue. B} Assume you lower the price from $.30 to $.24 per copy and you demand increases t010,812 copies weekly. Determine the elasticity of your demand. What can you infer about your market? (3) Assume you raise the price from $.30 to $.45 per copy and your demand decreases by 10-00 copies weekly. Determine the elasticity of your demand. 'What can you infer about your market

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

ALAsume the following Number of college students in the market Average number of copies per student per year Your Compan's estimated share of the total market 25,000 125 13% SOLVE FOR THE FOLLOWING:...

2 . Using the information in question # 1 above, assume you will charge on average $.40 per copy. A) Calculate your monthly revenue. B) Assume you lower the price from $.30 to $.24 per copy and you...

1. Suppose you own a copy business that targets college students. A) Assume the following | Number of college students in the market: Average number of copies per student per year Your company's...

For question 8,9 and 12. 8. A Bank makes a 360-month mortgage loan to a Sub-Prime Borrower. The cost of the house was $250,000 and the original amount of the loan was $245,000. The Bank offered the...

Your boss wants you to conduct a sensitivity and scenario analysis to determine whether the following project is a winner. You are entering an established market, and you know the market size will be...

Please show the formulas and the full work not using excel so I can fully understand it. Consider a project with annual expected income based on approximately $125 million in revenue and...

PRICING WORKSHEET - #3 (Refer to all the slides that you used in Pricing Worksheets # 1 and 2 to answer all of the following) 1. Suppose you own a copy business that targets college students. A)...

Can I have the detlied answers for 2. A) Calculate monthly revenue.B), C) PRICING WORKSHEET - # 1 ESTIMATING DEMAND and DEMAND ELASTICITY (refer to Slides # 9, 10) 1. You own a flower shop and you...

HERE IS THE ANSWER FOR FIRST 2 PARTS Case 1: Current Trucks/ Trailers Let the number of calendar days required be x. So, Total Revenue = 375x (Revenue/ day is given in Exhibit 1) Total Fixed Cost =...

Answer the six discussion questions at the end of the case study thoroughly and add in references when applicable: 1. Recall that Hula's management believes that each customer generates $3.50 in...

Let a be complex. Prove that u(t) = ceat is the (complex) solution to our scalar ordinary differential equation (8.1). Describe the asymptotic behavior of the solution as t , and the stability...

A coupon bond that pays interest semiannually has a par value of $1000, matures in 3 years, and has a yield to maturity of 3%. If the coupon rate is 9%, the value of the bond today will be 1b- A...

1 5 point: The following is a partial trial bolance for General Uighting Corporation as of December 3 1 , 2 0 2 4 : \ table [ [ scowint - Title,Debits,Credits ] , [ Sates revehut,,$ 2 , 9 5 0 , 6 0 0...

QUESTION 3 Classic Mens Enterprise is a small business independently owned and operated by Alhaji Abdul Malik. The Enterprise deals in suits and shoes for both men and women in a very vibrant suburb...

2. How do I perform this role?

6. List one and only one societal role that you wish you had performed better in. Spend the next month on a small push to improve your personal performance within this role. At the end of the month,...

9. Imagine that you have achieved the goal you set for yourself in task 8. a. What do you see in the past? b. How do you feel? c. What do you hear? d. How does this change your roles? e. How does...