Maurice Tutor

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Expertise:
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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 29 Nov 2017 My Price 5.00

demand curve

Copy anThe demand curve for a product is given by Q x = 1,000 – 2Px + .02Pz, where Pz = $400.
a.
What is the own price elasticity of demand when Px = $154? Is demand
elastic or inelastic at this price? What would happen to the firm’s
revenue if it decided to charge a price below $154?
b. What is the
own price elasticity of demand when Px = $354? Is demand elastic or
inelastic at this price? What would happen to the firm’s revenue if it
decided to charge a price above $354?
c. What is the cross-price
elasticity of demand between good X and good Z when Px = $154? Are goods
X and Z substitutes or complements?d paste your question here...

Answers

Maurice Tutor
(5)
Status NEW Posted 29 Nov 2017 09:11 PM My Price 5.00

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