The short-run supply of rental cars is (nearly) perfectly inelastic. Explain why. Your response should relate to the types of the costs rental car companies face in the short run.
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- Daffy’s is a pet care company that recently increased the average price of its services by 5%. As a result, the number of customers dropped by 4%. Buffy’s, a pet adoption company, opens up right next door to Daffy’s. How will this likely impact the demand for services at Daffy’s?Term used to describe demand that can be accuratelycalculated to meet the need of a production schedule,for example.The price of petrol increases by 20% and remains at the new higher level. Which of the following statements is likely to be true? The price elasticity of demand will be higher a few years after the price change a The quantity of petrol supplied will decrease The price elasticity of demand for petrol will not be affected by the change in the price of petrol over the long run d Demand for petrol will increase after people adjust to the new higher price The price elasticity of demand will be lower a few years after the price change
- Answer the question using the 3 -step approach 2. Due to Covid 19, there has been a major delay with the shipping lines causing an increase in shipping costs for major retailerShipping cost is a major cost component for shea products. How will Covid affect the supply and demand for Shea products? 3. A 12 % increase in the price of fuel reduces the quantity of fuel demanded by 3 %. What is the price elasticity of demand for fuel?What can you say about elasticity?If A New Breakthrough in Manufacturing technology reduces the cost of producing Blu-ray Players By Half what Will Happen to supply of blu-ray playersMango Systems believes that demand for its pet e-mouse follows a linear demand equation: Quantity = 43,911 - 708* Price Mango's variable cost to produce one pet e-mouse is $23.50. Find the maximum total contribution margin (margin per unit times quantity sold) that Mango Systems can possibly achieve on its pet e-mouse. (Rounding: penny.) Your Answer:
- Q) The short-run market demand andsupply for Kente cloth are expressed as follows:Demand:P=40-0.25QSupply: P=5+0.05QMarginal cost: -20+4Q a) Find short run level of output.Q1. Calculate the Income Elasticity of Demand (IED) and explain whether hotels are normal or inferior good Q2) Calculate the profit or loss for hotel bookings at the profit maximizing quantity indicated in the case study. Q3) With an average variable cost of AED 1000, calculate the Average Fixed Cost (AFC).Assume the Witcher video games only have Nintendo switch versions. CD Projekt Red announces the highly anticipated Witcher 4 game will be released next month. No new Nintendo switches are available for the next 6 months due to covid related supply issues. What will the impact of this announcement be on the market for USED Nintendo switches? Explain. Diagram optional. Your answer should be understood even without a diagram.
- Consider the graph above. If the demand curve intersects the marginal & average cost curve at 100 units, calculate the profit-maximizing quantity. Profit-maximizing quantity = Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.An exclusive Yoghurt manufacturer sells 4,000 gallons per month at a price of GHS 40 each. When the price is reduced to GHS 30 sales increase to 6,000 gallons per month. Calculate the change in revenue due to the change in price.If the rent of the building the firm occupies increases, what will happen to the firm’s profit-maximizing quantity of hats in the short run?
