Mishal Almandhour
This page lists questions and answers that were posted by visitors named Mishal Almandhour.
Questions
The following questions were asked by visitors named Mishal Almandhour.
Suppose that the demand curve for beans is given by: Q=20-P Where Q is thousands of pounds of beans bought per week and P is the price in dollars per pounds a. How many beans will be bought at P=0 b. At what price does the quantity demanded of beans becom...
15 years ago
Explain the relationship between product X, product Y and product Z or the properties of each according to the following statements a. Cross price elasticity between X and Y is -4 b. Cross price elasticity between X and Y is 12 c. Cross price elasticity b...
15 years ago
Explain how the following events might affect the market demand curve for prime filet mignon a. A fall in price of filet mignon because of decline in cattle prices b. A general rise in consumer's income c. A rise in the price of lobster d. Increased healt...
15 years ago
1. Calculate the demand elasticity of demand ( by using at least two methods) given the following information: P1 = 10 Q1=100 P2 = 15 Q2 = 20 Is the product elastic or inelastic?
15 years ago
2. Decide whether the following product is normal, inferior, or luxury. Explain how you can find that? a. Income increases by 20% and quantity decreases by 30% b. Income decreases by 20% and quantity decreases by 30 % c. Income decreases by 20% and quanti...
15 years ago
Answers
The following answers were posted by visitors named Mishal Almandhour.