1 answer

Pls do provide calculation and explain thank you ! Complete in pencil only. Your accurate work...

Question:

Complete in pencil only. Your accurate work and formulas must be shown to earn full credit. Answers only will not earn creditpls do provide calculation and explain thank you !

Complete in pencil only. Your accurate work and formulas must be shown to earn full credit. Answers only will not earn credit. 1. Consider the markets for mobile and landline telephone service. Suppose that when the average income of residents of Plainville is $55,000 per year, the quantity demanded of landline telephone service is 12,500 and the quantity demanded of mobile service is 28,000. Suppose that when the price of mobile service rises from $100 to $120 per month, the quantity demanded of landline service decreases to 11,000. Suppose also that when the average income increases to $60,000, the quantity demanded of mobile service increases to 33,000 Considering the income elasticity, what type of good is mobile telephone service? 2. Consider the markets for mobile and landline telephone service. Suppose that when the average income of residents of Plainville is $55,000 per year, the quantity demanded of landline telephone service is 12,500 and the quantity demanded of mobile service is 28,000. Suppose that when the price of mobile service rises from $100 to $120 per month, the quantity demanded of landline service decreases to 11,000. Suppose also that when the average income increases to $60,000, the quantity demanded of mobile service increases to 33,000 Are mobile phones and landline telephones competitors? Support your answer 3. Suppose the price elasticity of supply for minivans is 0.3 in the short run and 1.2 in the long run. If an increase in the demand for minivans causes the price of minivans to increase by 5%, what is the result in terms of the quantity supplied of minivans?

Answers

1 9meome elasticty of demand clange Ho bik: ,45s, 00 28,000 2-33,000 Ey = - S x 100 33,000-28000 60,000-55,0o X 55,000 28,000Exy o Conaplemente BY buses, demand der ala Hagy Parse substifuter mot are E 1.2 0.3 Es = .49s . 4P 5Y. Short runj O.8- 59. 1

.

Similar Solved Questions

1 answer
L 1. What are the two molecular functions of M-cyclin with regard to the activation of M-Cak m-cyctin 2. Fill in the blanks: The pathway that is activated in response to DNA damage in G1 involves...
l 1. What are the two molecular functions of M-cyclin with regard to the activation of M-Cak m-cyctin 2. Fill in the blanks: The pathway that is activated in response to DNA damage in G1 involves activation of which induces the complexes and inhibits them.ge,which encodes aprotein that binds to t...
1 answer
Cost of common stock equity Ross Tantiles wishes to measure its cost of common stock equity....
Cost of common stock equity Ross Tantiles wishes to measure its cost of common stock equity. The firm's stock is currently seling for $41.91. The firm just recently paid a dividend of 54.12. The firm has been increasing dividends regularly. Five years ago, the dividend was just $3.06. After unde...
1 answer
Question 3 (25 points) You have two machines under consideration for an imuroved automated wrapping process for Sni...
Question 3 (25 points) You have two machines under consideration for an imuroved automated wrapping process for Snickers Fun Size candy bars as detailed below. Using an annual worth analysis, determine which should be selected at i = 9% per year. First cost, $ Annual cost, $/year Salvage value, $ Li...
1 answer
What is 5% of 88.5cm?
What is 5% of 88.5cm?...
1 answer
Please provide your classmates with information about patents and whether or not they should be amortized...
Please provide your classmates with information about patents and whether or not they should be amortized and over what time period. Also, please provide an explanation of goodwill and let your classmates know whether or not it should be amortized....
1 answer
A camera costs $449 including 12% GST. What is the price of the camera without GST, correct to the nearest dollar?
A camera costs $449 including 12% GST. What is the price of the camera without GST, correct to the nearest dollar?...
1 answer
How can I fix this problem ? Debug assertion failed (stream != NULL).
#include <stdio.h>#include <stdlib.h>#include <string.h>#include <errno.h>#define fileNameLength 256int main(){//Local variableschar inputFileName[fileNameLength] = {0}; //filenamechar inByte;FILE *inputFile, *outputFile; //file pointers for input and outputint shiftValue = 0...
1 answer
Problem 18-12 APV MVP, Inc., has produced rodeo supplies for over 20 years. The company currently...
Problem 18-12 APV MVP, Inc., has produced rodeo supplies for over 20 years. The company currently has a debt-equity ratio of 65 percent and the tax rate is 21 percent. The required return on the firm's levered equity is 14 percent. The company is planning to expand its production capacity. The e...
1 answer
13 SN1: Synthesis of tert-Butyl Chloride Alkyl halides can be prepared from their corresponding alcohols via...
13 SN1: Synthesis of tert-Butyl Chloride Alkyl halides can be prepared from their corresponding alcohols via an acid catalyzed substitution reaction. The mechanism of these acid catalyzed substitution reactions are labeled as SNI (substitution, nucleophilic, unimolecular) and S 2 (substitution, nucl...
1 answer
C++ Write a program that takes in 3 inputs [players (int type), expected game time (double...
C++ Write a program that takes in 3 inputs [players (int type), expected game time (double type), team (char type) and calculates actual game time (double) based on the following conditions: if the number of players or the expected game time is less than or equal to ZERO, it should output Wrong inp...
1 answer
Question 6 (2 points) Give at least one example of a catalyst used in your daily...
Question 6 (2 points) Give at least one example of a catalyst used in your daily life and why it is important. Do not use any examples already provided in the background material. You must provide a citation....
1 answer
I. Darth Vader's parking problem (Part I): Darth Vader "drives" his Star Destroyer of length =...
I. Darth Vader's parking problem (Part I): Darth Vader "drives" his Star Destroyer of length = 2,200 m home. He tries to park the spaceship in his newly-build garage, which is at rest. The contractor who build the garage messed up the blueprints and made the garage only 2,000 m long (the...
1 answer
You are standing at a distance D from an isotropic point source of sound. You walk a distance x...
You are standing at a distance D from an isotropic point source of sound. You walk a distance x toward the source and observe that the intensity of the soundcontinually increases until it has doubled. Calculate the distance D in terms of x.D=Parenthesis are important here and syntax...
1 answer
Det (4) 30 000 0 0 0 2233200 0 0 0 0 0 0 0 0...
det (4) 30 000 0 0 0 2233200 0 0 0 0 0 0 0 0 0 0 0 Question 2 (Each blank is 4 points.) 2 2 2 2 2 0 2 02 0 0 0 0 2 0 2 0 0 0 Let A = 2 2 2 2 2 0 0 2 2 2 2 2 2 2 2 2 2 0 0 0 0 0 2 2 0 0 0 0 (a), det(A) (b). det(A) 2020...
1 answer
Paragraph Styles Suppose that there are two independent economic factors, F and F2. The risk-free rate...
Paragraph Styles Suppose that there are two independent economic factors, F and F2. The risk-free rate is 10%, and all stocks have independent firm-specific components with a standard deviation of 50%. Portfolios A and B are both well-diversified with the following properties: PortfolioBeta on Fi Be...
1 answer
Course: Fundamentals of Databases Define Outer Join and List out Various type of Outer Join
Course: Fundamentals of Databases Define Outer Join and List out Various type of Outer Join...
1 answer
1. Discuss the risks, benefits, and audit issues related to cloud computing. 2. What is the...
1. Discuss the risks, benefits, and audit issues related to cloud computing. 2. What is the role of internal audit for enterprise-wide risk management?...