Elasticity of Demand Assignment

Elasticity of Demand Assignment
Elasticity of Demand Assignment
1. Why does the quantity of salt demanded tend to be unresponsive to changes in its price?
2. Why is the quantity of education demanded in private universities much more responsive than salt is to changes in price?
3. To get the market demand curve for a product, why do we add individual demand curves horizontally rather than vertically?
4. The market for lemon has 10 potential consumers, each having an individual demand curve
P = 101 – 10Qi, where P is price in dollars per cup and Qi is the number of cups demanded
per week by the ith consumer. Find the market demand curve using algebra. Draw an
individual demand curve and the market demand curve. What is the quantity demanded by
each consumer and in the market as a whole when lemon is priced at P = $1/cup?
5. The demand for tickets to an Ethiopian Camparada film is given by D(p)= 200,000-
10,000p, where p is the price of tickets.If the price of tickets is 12 birr, calculate price
elasticity of demand for tickets and draw the demand curve
6. Given market demand Qd = 50 – P, and market supply P = Qs + 5
A) Find the market equilibrium price and quantity?
B) What would be the state of the market if market price was fixed at Birr 25 per unit?
C) Calculate and interpret price elasticity of demand at the equilibrium point.
39
7. Based on the following table which indicates expenditure of the household on a
commodity, answer the questions that follow ( The price of the good is Br.10 )
Income
( Br. / month)
Quantity Demanded
( units / month )
10,000 50
20,000 60
30,000 70
40,000 80
50,000 90
A) Calculate income elasticity of demand, if income increases from Br.10, 000 to Br.
20,000 and if income increases from Br.40, 000 to Br. 50,000.
B) Is this a normal or an inferior or a luxury good? Justify.
C) Does the proportion of household income spent on this good increase or decrease as
income increases? .Why?
8. When price of tea in local café rises from Br. 10 to 15 per cup, demand for coffee rises
from 3000 cups to 5000 cups a day despite no change in coffee prices.
A) Determine cross price elasticity.
B) Based on the result, what kind of relation exists between the two goods? Get Economics homework help today
Other posts:
Demand for dishwasher water pumps is 8 per day
Clean Water and Sanitation
Reflection on Discrimination
NUR 670 GC Complete Discussions Package

Instant Nursing Papers
Hire a Nursing Expert
Pages (550 words)
Approximate price: -

Why Choose Instant Nursing Papers?

Quality Nursing Papers

We assist students in achieving the best top-grade in their nursing papers, and in compliance with the provided instructions. Have your nursing paper written with a certified specialist Ph.D., Bachelor's, and Master's graduates with many years of experience in academic writing.

Experts with Ph.d., MDs and DNP Holders

Our writers have acquired Ph.D., MDs and DNP credentials from world class institutions. Our writers can handle papers from any discipline and can handle over 100+ subjects.

Nursing Papers Cheap

We provide a great deal of student-friendly prices and professionalism with all our nursing essay writing services. Our paper writing services have a user-friendly interface and professional nursing academic assistance. We are committed to assisting all students with their nursing assignments and projects regardless of their academic level.

Fast Paper Delivery

Our writers follow a strict schedule to ensure papers are delivered before the deadline to enable our editors to proofread before the final delivery to our customers. We strictly observe the early delivery of assignments to meet our clients' deadlines.

Plagiarism-free Nursing Papers

Our expert nursing paper writers are dedicated to conducting thorough research and writing papers from scratch to deliver original papers. To avoid paper plagiarism, all orders go through steps of writing, editing, and proofreading.

24Hour Customer Help

Our customer support is available 24/7/365 to help clients and make their paper writing services easy to use. Our experienced support team is available to answer your queries any time, 24 hours a day.

Try it now!

Calculate the price of your order

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Nursing Papers Writing Service

We provide Nursing Assignment Services to Nursing students. Also, we are not limited to providing Nursing assignment help to students only. We also provide assignment help and solutions to community health nursing, Anatomy & Physiology, Microbiology, Biochemistry and Biophysics, and Nutrition & Dietetics.

Essays

Nursing Essays

Sit back, relax while our writers sort you out on your most daunting nursing essay queries on how to write a good nursing essay. We got you if you are looking for the best nursing essay services.

Research

Nursing Projects

It is no doubt that qualifying for a nursing career is difficult and requires a series of tests. Most nursing students must put in a lot of work in their assignments and coursework. Instantnursingpapers.com will help you answer queries such as “who can write my nursing research paper?”.

Disserations

Nursing Dissertation Help

Instantnursingpapers.com will save you the hustle of undergoing pressure or even depression while doing your nursing dissertation paper. Save yourself from all the long sleepless nights and pressure by working with our best nursing dissertation writing professionals.

Coursework

Nursing Coursework Help

If you happen to hop into our site in search of nursing coursework help, look no further. We are the number one solution for the best nursing coursework assignments. Therefore, to complete the best APA nursing coursework, seek help from professional nursing coursework experts at instantnursingpapers.com