Which firm would have more ability to respond to a change in input prices, one where inputs are perfect substitutes or one where they are combined in proportions? Use graphs to help demonstrate answer
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Which firm would have more ability to respond to a change in input prices, one where inputs are perfect substitutes or one where they are combined in proportions? Use graphs to help demonstrate answer
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- Input either "increase" or "decrease" where relevant: A decrease in the price of a complementary good will cause its complement’s equilibrium price to ...... and the equilibrium quantity to .....A competitive firm is selling the product for Rs. 30. Is itpossible that he sells the product on Rs. 35? Explain this pointwith the help of a diagramAnswer using different graphs
- The supply of cars is given by the following relationship: q= 6+10p, where q indicates quantity and p indicates price. Plot this supply curve in a graph. Remember to put prices in the y-axis!Choose the correct answer: . Refer to the Figure . The most inefficient point depicted is: Point A Point C Point D 4. Point GProblem #3 - Supply/Demand An potter sells handmade mugs on their website and has found that if the price for a mug is set at $22 they will sell 60 mugs and if they set the price at $35 they will only sell 21 mugs. You must show your work on all parts! a. Construct the monthly linear demand function. Use p for the price (dollars per mug) of the produce and q for the number of mug demanded. b. Find the equilibrium price if the monthly supply function is given by: q-0.003p² + 2p+10.5 Round to the nearest cent (i.e. $0.01). Include correct units. C. Report the monthly surplus or shortage when the price is $25. What is the corresponding revenue? Include correct units.
- i would like an explanation of this graph pleaseSuppose Mai estimates two demand curves, one for data collected over a two-week period for her stores in two towns (Town 1 and Town 2). These demand curves result from regression equations in which Mai estimates quantity demanded as a function of price and no other variables. However, Mai recognized that other variables, such as sunshine or temperature, may affect the demand for pie Collecting this data requires effort. In which town should collecting such data be a higher priority for Mai if she is trying to improve her ability to predict pie demand? Explain. Suppose the R² statistic for the regression for Town 1 is 0.77 and for Town 2 is 0.67. A regression's R² statistic is a measure of OA. national representativeness. OB. goodness of fit. OC. functional form. OD. mean value. Mai should collect more data for statistic for its regression model is because the R 20- 10- 20 p. S per pie 1045 p. S per pie Town 1 10 20 30 Q. Thousands of pies per month Town 2 40can you explain this graph.