Economy and the elasticity of demand?
Mindy is trying to estimate the elasticity of demand for a product she wants to sell at a craft fair. She has been told that she can expect to sell 10 items if she charges a price of $10, six items if she charges a price of $20, and 18 items at a price of $5. 1. What is the demand schedule that would show the quantities demanded at each price? 2. Use the information in the demand schedule to create a demand curve and graph results (just explain the x and y values) 3. At which price would the total expenditures by consumers be greatest for the product? At what price would expenditures be the smallest?
Math Questions I Need Help With?
Liz wants to buy her favorite musical group's new CD. The CD costs $15.24, including tax. Liz gives the store clerk a twenty-dollar bill. How much change should Liz get back? Rene is going to the lake to visit some friends. If the lake is 60 miles away, and Rene is driving at 40 miles per hour the entire time, how long will it take her to get to the lake?
Economics will be the death of me! Please help me. Three questions, not asking for answers just need help on how to solve them!?
1) Suppose that the total revenue received by a company selling basketballs is $720 when the price is set at $30 per basketball and $720 when the price is set at $20 per basketball. Without using the midpoint formula, identify whether demand is elastic, inelastic, or unit-elastic over this price range. 2) Danny “Dimes” Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he bakes himself. At a price of $2 each, he sells 100. At a price of $1.5 each, he sells 300. a. What is the elasticity of demand? . b. Is demand elastic or inelastic over this price range? c. If demand had the same elasticity for a price decline from $1.5 to $1 as it does for the decline from $2 to $1.5, would cutting the price from $1.5 to $1 increase or decrease Danny’s total revenue? 3) Currently, at a price of $0.50 each, 250 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $0.50 to $1 is unit-elastic (Es = 1). In the long run, a price increase from $0.50 to $1 has an elasticity of supply of 1.50. a. How many popsicles will be sold each day in the short run if the price rises to $1 each? b. So how many popsicles will be sold per day in the long run if the price rises to $1 each?
Weird Micro-Econ Question?
Bill sees a classified ad offering a used DVD player for $5. On the opposite page, he sees a big color ad from a national electronics chain offering new DVD players for $50. Bill values a DVD player at $75 as long as it works, regardless of whether it is new or used. Suppose that the seller of the DVD player, Al, was honest. He had a DVD player, and then his parents gave him a new one for his birthday, so rather than throw the old one away he tried to find it a new home and make a few dollars. What should Al have done to sell it successfully? A. He should have posted a picture of the DVD player along with his ad, to make it look more attractive. B. He should have asked $45 to show that it was a good deal. C. He should have asked $20 and sold it with a guarantee that he would replace it with a new DVD player if it turned out not to work. D. He should have offered the DVD player for free to anyone who would take it. Will A work?
What if a 100 dollar bill still has the serial numbers but it is torn in half? Can I take it to the bank and change it for a new one?
As a rule, a bank will exchange a bill if you present CLEARLY more than half of it, it does not matter if the piece contains the serial number or not. It must however contain “sufficient remnants of relevant security features” that make it possible to ascertain that it was a real bill to begin with.This rule is to avoid people tearing banknotes in halves and exchanging both halves each for a new banknote, doubling their cash. Or exchanging fake bills under the pretext that the part with security features got torn away/damaged.In disputable cases when a commercial bank refuses to accept the note, you can turn to the bureau of printing and engraving and see if they accept your claim. They might accept it for redemption even if the remnant is less than half, if “the method of mutilation and supporting evidence demonstrate to the satisfaction of the Treasury that the missing portions have been totally destroyed”.
What is the best email marketing tool that bills per sent message?
Hello, have you heard about SALESmanago?SALESmanago is a software offering different Marketing Automation tools. The price is based on the number of contacts in your database. There are three packages. One of them is free. You can find there feature: Unlimited e-Mail Marketing. I can recommend you testing it ;)Why it’s worth to try it? One of their tools is Email Drag&Drop Designer. This feature helps you create a beautiful and responsive email templates just in few minutes. Every email created in the editor will be fully responsive.On their website you can find both written instruction and instructional film that will show you how to make your new template. When you open the editor, you have two options: to create the template on your own using elements or edit the template they offer. It gives you a possibility of fully personalizing your mails.More information about SALESmanago on their website: Marketing Automation & E-mail Marketing | SALESmanago
What would be the total cost in dollars if you add the value of the clothes you are wearing and all the objects that you carry in your pockets?
Interesting question. I'm dressed for work at the office today, so it's fairly casual business attire. Here goes (starting from the bottom up): CLOTHESSocks - women's trouser socks bought at Costco, I think they were something like $10 for 3 pairs, so let's say - $3.50.Pants - grey wool slacks bought online from Banana Republic. Ok, these are a little spendy (well, at least for me they are), but because I have a 36-inch inseam and it's hard to find women's pants that are long enough, I'll pay just about anything for a well fitting pair - $98.00Underwear/Bra - ok, no judgment, I like nice underwear. If the bra and panties match, it makes me feel like I've actually got my shit together, go figure - $150Shirt - black scoop-neck knit sweater, I'm pretty sure I got it online at Anne Klein on clearance - $20Sub Total: $271.50ACCESSORIESShoes - bought heeled ankle boots off Amazon, on sale - $65.00Necklace - simple gold chain with my mother's gold wedding band at the end. I've worn it almost everyday since my Dad gave it to me after Mom died. The value is priceless, the cost is an estimate - $150.00Earrings - simple gold loops that my husband gave me when we were dating. I have no idea how much they were. I'll take a guess - $50.00Ring - my gold wedding band - $200.00Hair pins - the hair's in a twist today, so there's about 15 bobby pins in my head - $1.00Purse - birthday present from my husband, a leather Hobo Bag. I only know how much it cost because I do the bill paying at our house and he accidently charged it on our joint Visa instead of his personal/bank Visa - $400.00 (Way, WAY too expensive and while I do love it, I asked him to never spend that much money on a present for me ever again.)Sub Total: $866.00POCKETSCell Phone - a used/refurbished Galaxy S4 - $100Cash - for when I walk over to the cute little café across the street from my office and get a coffee later - $10Sub Total: $110Grand Total: $1247.50 (Holy crap, I wouldn't have thought it'd be that much!)I'm just realizing that the question didn't really say anything about jewelry, or purses, just clothes/shoes/pockets. So, if that's the case and I take the jewelry and the purse out, we're looking at:Grand Total: $446.50 (Whew, that's a little better.)
If you cut a bill in half and give it to the bank, would they accept it as half the currency?
No. They would think you a wise guy and tell you to take a hike.Forget that mumbo jumbo about 51% of the bill. The bank is not obligated to take bills in this manner … but may do so as a service to customers that have such bills passed to them by accident not for wise guys that tear the bill in front of them.They would have to do a special shipment to fed for unfit currency. More work for them. They can just as easily tell you send your half a bill to the Fed with a letter with your hard luck story if you don’t live in a city that has a fed exchange window.