Hello there, I have a really important assignment and I am struggling with questions number 1,5,6, and 7. I really
October 5, 2020
managerial econ A firm produces digital watches on a single production line serviced during one daily shift.
October 5, 2020
Show all

Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any…

Question:

Hi, I was having a hard time with this problem. Please help. This problem has 4 parts to it.

Connect with a professional writer in 5 simple steps

Please provide as many details about your writing struggle as possible

Academic level of your paper

Type of Paper

When is it due?

How many pages is this assigment?

1 – The graph (I attached the graph with my answers but do not know if it is correct)

2-According to the midpoint method, the price elasticity of demand between points A and B on the initial graph is approximately

    A.   0.1      B.   0.69        C.   1.44        D.   27      

3-Suppose the price of bippitybops is currently $20 per bippitybop, shown as point B on the initial graph. Because the price elasticity of demand between points A and B is (elastic, inelastic, or unit elastic), a $5-per-bippitybop increase in price will lead to (a decrease, an increase, or no change). 

4- In general, in order for a price decrease to cause a decrease in total revenue, demand must be (elastic, inelastic, or unit elastic).

Thank you!

  • Attachment 1
  • Attachment 2
  • Attachment 3
  • Attachment 4
  • Attachment 5

 

“Looking for a Similar Assignment? Get Expert Help at an Amazing Discount!”

Looking for a Similar Assignment? Let us take care of your classwork while you enjoy your free time! All papers are written from scratch and are 100% Original.