« previous next »

Author Question: Suppose the log-linear demand for widgets is found to be Ln(Q) = 1.5 - 2ln(p) According to this ... (Read 11 times)

leo leo

  • Hero Member
  • *****
  • Posts: 566
on: Jul 1, 2018
Suppose the log-linear demand for widgets is found to be
 
  Ln(Q) = 1.5 - 2ln(p)
  According to this equation, a 10 increase in price will decrease Q by what percentage? What is the price elasticity of demand?

Question 2

Diseconomies of scale can be caused by
 
  A) the law of diminishing returns.
  B) bureaucratic inefficiencies.
  C) increasing advertising and promotional costs.
  D) All of the above


Ahernandez18

  • Sr. Member
  • ****
  • Posts: 361
Reply #1 on: Jul 1, 2018
Answer to Question 1

20, E = -2.

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Congestive heart failure is a serious disorder that carries a reduced life expectancy. Heart failure is usually a chronic illness, and it may worsen with infection or other physical stressors.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Opium has influenced much of the world's most popular literature. The following authors were all opium users, of varying degrees: Lewis Carroll, Charles, Dickens, Arthur Conan Doyle, and Oscar Wilde.

Did you know?

Interferon was scarce and expensive until 1980, when the interferon gene was inserted into bacteria using recombinant DNA technology, allowing for mass cultivation and purification from bacterial cultures.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

The linear meiosis of Neurospora The linear meiosis of Neurospora
Shapes of cells found in the brain. Shapes of cells found in the brain.
How to manually solve a linear system with three variables without matrices (Question 1 of 2) How to manually solve a linear system with three variables without matrices (Question 1 of 2)
How to perform linear approximations in calculus How to perform linear approximations in calculus
The growing demand for electrical power, carbon sequestration and storage must be a priority The growing demand for electrical power, carbon sequestration and storage must be a priority
During a period of high power demand, the voltage output of the power company is reduced by ... During a period of high power demand, the voltage output of the power company is reduced by ...
Video: Mitochondrial Structure & ETC Protein Complexes (Protein Complexes and Electron Transport)

For a complete list of videos, visit our video library