« previous next »

Author Question: On most days the price of a rose is 1 and 80 roses are purchased. On Valentine's Day the demand ... (Read 72 times)

azncindy619

  • Hero Member
  • *****
  • Posts: 562
on: Jun 29, 2018
On most days the price of a rose is 1 and 80 roses are purchased. On Valentine's Day the demand increases so that the price of a rose rises to 2 and 320 roses are purchased. Therefore, the price elasticity of
 
  A) demand for roses is about 1.8.
  B) demand for roses is about 0.55.
  C) supply of roses is about 1.8.
  D) supply of roses is about 0.55.

Question 2

Paul runs a shop that sells printers. Paul is a perfect competitor and can sell each printer for a price of 300.
 
  The marginal cost of selling one printer a day is 200; the marginal cost of selling a second printer is 250; and the marginal cost of selling a third printer is 350. To maximize his profit, Paul should sell A) one printer a day.
  B) two printers a day.
  C) three printers a day.
  D) more than three printers a day.


Chou

  • Sr. Member
  • ****
  • Posts: 335
Reply #1 on: Jun 29, 2018
Answer to Question 1

C

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

Did you know?

The highest suicide rate in the United States is among people ages 65 years and older. Almost 15% of people in this age group commit suicide every year.

Myocardial Oxygen supply and demand Myocardial Oxygen supply and demand
Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
The effect of a few days of early monocular deprivation on the structure of axons projecting from ... The effect of a few days of early monocular deprivation on the structure of axons projecting from ...
The distribution of high-energy, nutritious biscuits was a lifeline in the first days after the 2010 The distribution of high-energy, nutritious biscuits was a lifeline in the first days after the 2010
Development of the Eyes and Ears: External View - 28 days Embryo Development of the Eyes and Ears: External View - 28 days Embryo
Video: Heart sounds

For a complete list of videos, visit our video library