Answer:
Option (c) is correct.
Explanation:
Initial quantity demanded = 800
New quantity demanded = 600
Initial price = $4
New price = $4.50
Using the midpoint formula,
For price:
Average price:
= (Initial price + New price) ÷ 2
= ($4 + $4.50) ÷ 2
= $4.25
Change in price = New price - Initial price
= $4.50 - $4
= $0.50
For Quantity demanded:
Average quantity demanded:
= (Initial Quantity demanded + New Quantity demanded) ÷ 2
= (800 + 600) ÷ 2
= 700
Change in quantity demanded:
= New Quantity demanded + Initial Quantity demanded
= 600 - 800
= -200
Price elasticity of demand:
= (- 0.29) ÷ 0.12
= -2.43
Answer:
In Nash equilibrium Profits for Firm A and Firm B will be;
$-20 billion , $- 20 billion
Explanation:
Nash equilibrium is a situation in which both players will receive optimal profit. One player can not receive higher and extra ordinary profit while other player will make excessive losses. Nash equilibrium is a strategy in payoff matrix which benefits both the firms.
Answer:
Q=120−4P
Explanation:
putting P = 20 we get
q= 40
we know that elasticity is quantity demanded / price
20
40
=2
hence the correct option: D
Answer:
The correct answer is letter "C": design planning.
Explanation:
Design planning involves all the steps by which a firm drafts the product they would like to offer and determines what activities will be necessary to transform the draft into reality. The firm's production, marketing, and budget are also outlined at this stage to find out what resources will be necessary for the venture.
This information is helpful for investors since they will be the ones deciding if funding the plan or not.
Answer: Mines, Power Plants, Refineries, Office
Explanation: I just took the assignment good luck!