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Author Question: Ingrid's Ice cream Parlor has an own price elasticity of 5 . It has an approximate share of 10 in ... (Read 115 times)

stephzh

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on: Jul 1, 2018
Ingrid's Ice cream Parlor has an own price elasticity of 5 . It has an approximate share of 10 in the market for ice cream. What is the aggregate own price elasticity of the market?
 a. 0.1
  b. 0.5
  c. 0.7
  d. 1

Question 2

What is the Nash equilibrium of the game?
 a. Low, Low
 b. Low, High
 c. High, Low
 d. High, High


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tmlewis4706

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Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


stephzh

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

chjcharjto14

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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