2. Calculating the price elasticity of demand: A step-by-stepguide

Suppose that during the past year, the price of a laptop computer rose from $2,750 to $2,880. During the same time period, consumer sales decreased from 446,000 to 321,000 laptops.

Calculate the elasticity of demand between these two price–quantity combinations by using the following steps. After each step, complete the relevant part of the table with the appropriate answers. (Note: For decreases in price or quantity, enter values in the Change column with a minus sign.)

Step 1: Fill in the appropriate values for original quantity, new quantity, original price, and new price.

Step 2: Calculate the average quantity by adding the original quantity and the new quantity, and then dividing by two. Do the same for the average price.

Step 3: Calculate the change in quantity by subtracting the original quantity from the new quantity. Do the same for the change in price.

Step 4: Calculate the percentage change in quantity demanded by dividing the change in quantity by the average quantity. Do the same to calculate the percentage change in price.

Step 5: Calculate the price elasticity of demand by dividing the percentage change in quantity demanded by the percentage change in price, ignoring the negative sign.

Using the midpoint method, the elasticity of demand for laptops is about   .

Suppose that the city of atlanta decided to tax cheeze and a $1 per cheeseburger meal tax is proposed. would you predict that the price of a cheeseburger meal would raise by a dollar in atlanta. explain with the help of a diagram

I also discovered, during our discussion, that he has some very intelligent and innovative family members other than his father which brings up an interesting question. Are some of us born with a predisposition to being innovative?

Companies use demographic information to target specific groups of people to create a more meaningful piece of the market in which they can supply. In business, making this decision to target some while not targeting others can be difficult since expansion could be limited based on that specific groups’ dynamics.

1. Select a characteristic that business use to segment the population and explain how that can benefit the company’s sales.
2. Explain how targeting one group is not considered discrimination and how companies can avoid getting in trouble from making such a selection.
3. Lastly, how does the market segmentation create or increase customer loyalty within the market.

Analyze, Discuss and base properly

Question num. one

Of all the personal and professional attributes that a covenant negotiator must have, which do you consider to be the most important and significant that you must possess? Prepare a list of the attributes that a negotiator should have and indicate the most important in your opinion and why.

Question num. 2

Collective bargaining has long been viewed by scholars as an "art." More recently, however, scholars have begun to see collective bargaining as a "science." Explain your position on this statement. Indicate whether you agree or disagree and say why. Be detailed in your answer. Because some think it is an art and others think it is a science.

Question num. 3

From an employer's point of view, what advantages and disadvantages do you see in reducing a grievance to a formal written complaint. Do you consider that a verbal complaint is better than a formal written complaint? Be specific about the advantages and disadvantages of each modality. Do not forget that your opinion is requested from the employer's point of view

Question num. 4

Why might the management of a company or the union itself prefer not to have an arbitration clause contained in a negotiated collective agreement? What use is arbitration? Do you consider arbitration to be a useful tool for conflict resolution? You would recommend negotiating a collective agreement that does not contain an arbitration clause. Be highly specific in your opinion.

Question num. 5

Generally, collective agreements contain clauses regarding wages and the subsequent adjustments that must be made during the term of the agreement. If you are a union representative and are negotiating an agreement, what would be the elements related to wages that you would negotiate for the benefit of your enrollment. What compensation elements would you include in your agreement as part of your salary definition. What if any would you suggest to address gradual wage increases, namely: percentage increases, performance-based increases, increases based on some economic formula, or increases based on government determinations? Would you prefer a combination of factors? As structuring its clauses related to wages. Be highly specific. Do not forget that you are a representative of the workers.

QUESTION:

Explain why it is important that prices are flexible in our economy? What are the implications if the government started to control prices for products, how would this influence buying?

3-2 Please provide details and examples

How can the long-run average cost (LRAC) curve be derived from the short-run average total cost (SRATC) curve? Describe economies of scale and diseconomies of scale. What are the determinants of economies of scale and diseconomies of scale, respectively? Using a real-world company (other than Sysco), explain the causes of economies of scale for your company. How would economies of scale help your company compete in its industry?

What challenges does Texas currently face concerning transportation? What solutions are proposed to deal with these challenges? Describe political constraints faced by policy makers when trying to address transportation needs in Texas.

please explain about swot analysis of grameen bank.

I just want to know the strengths and weaknesses but please add why it is important!

Evaluate the effect of each shock below using first the classical model and second the Keynesian model. For the Classical model, include graphs of the goods market, the labor market, and the money market. For the Keynesian model, include an IS-LM-FE graph, an Aggregate Supply – Aggregate Demand graph, and a graph of labor market equilibrium with efficiency wages. For the Keynesian model, include short-run effects, while the price is constant, and long run effects after the price has fully adjusted.

1. There is a permanent increase in the money supply.
2. There is an increase in expected future productivity (the z in the production function).
3. There is an increase in government spending financed by an increase in expected future taxes.
4. There is an increase in the price of oil which reduces total factor productivity (z).

5. The price of trade

Suppose that Spain and Germany both produce fish and wine. Spain's opportunity cost of producing a bottle of wine is 3 pounds of fish while Germany's opportunity cost of producing a bottle of wine is 11 pounds of fish.

By comparing the opportunity cost of producing wine in the two countries, you can tell that   has a comparative advantage in the production of wine and   has a comparative advantage in the production of fish.

Suppose that Spain and Germany consider trading wine and fish with each other. Spain can gain from specialization and trade as long as it receives more than   of fish for each bottle of wine it exports to Germany. Similarly, Germany can gain from trade as long as it receives more than   of wine for each pound of fish it exports to Spain.

Based on your answer to the last question, which of the following prices of trade (that is, price of wine in terms of fish) would allow both Germany and Spain to gain from trade? Check all that apply.

2 pounds of fish per bottle of wine

1 pound of fish per bottle of wine

5 pounds of fish per bottle of wine

7 pounds of fish per bottle of wine

You will take on the role of the benevolent social planner. Remember the sole objective of a benevolent social planner is to maximize total surplus. Below are two lists of numbers. The top list represents the opportunity costs of a number of firms that supply an unspecified commodity. The bottom list includes the willingness to pay of a number of buyers who desire to purchase this unspecified commodity. Using these lists answer the following questions.

Sellers and their Opportunity Costs:

Trampled by Turtles 7

Dispatch 8

Valerie June 7

Daft Punk 2

JoshRitter 3

Delfonics 5

Yola 2

Los Lobos 5

Che Apalache 4

Buyers and their Willingness to Pay:

Dolly 4

Loretta 8

Crystal 10

Ernest 5

Dwight 7

Rosanne 10

Ronnie 7

Clint 5

Tracy 9

1. How many exchanges should occur? (1 point)

2. What is the total surplus of each exchange that occurs? Give the seller’s letter, the buyer’s letter, and the total surplus of this pair’s exchange. (1 point)

3. What is total surplus for the entire market? (1 point)

4. Assume that a price ceiling is imposed upon this market. No unit will be permitted to trade for a price above $4.50.

a. What is quantity supplied at this price? (1 point)

b. What is quantity demanded at this price? (1 point)

c. How many exchanges occur? (1 point)

5. Assume that the government has decided to impose a $3 tax per unit, to be paid by the sellers. A seller who does not sell a unit pays no tax. Therefore, the tax is like a cost increase of $3. A seller’s cost will really be $3 above the listed opportunity cost.

a. How many exchanges will occur? (1 point)

b. What is the total surplus of each exchange that occurs? Give the seller’s number, the buyer’s number, and the total surplus of this pair’s exchange. (1 point)

c. What is total surplus for the entire market? (1 point)

d. Is there any deadweight loss? If so, what is it? (1 point)