« previous next »

Author Question: The own price elasticity of Anne's apple pies is 5 . If the aggregate market for apple pies has an ... (Read 262 times)

KimWrice

  • Hero Member
  • *****
  • Posts: 579
on: Jul 1, 2018
The own price elasticity of Anne's apple pies is 5 . If the aggregate market for apple pies has an own price elasticity of 1.25, Anne's apple pies has an approximate market share of
 a. 6.25
  b. 25
 c. 10
 d. 20

Question 2

What is the best response of firm B, given firm A is charging a low price?
 a. Charge a low price
 b. Charge a high price
 c. Charge zero, give the good away
  d. All of the above


quynhmickitran

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jul 1, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

KimWrice

  • Hero Member
  • *****
  • Posts: 579
Reply #2 on: Jul 1, 2018
Thank you :)


quynhmickitran

  • Sr. Member
  • ****
  • Posts: 330
Reply #3 on: Jul 1, 2018
Happy to help you


« previous next »
 

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

In most climates, 8 to 10 glasses of water per day is recommended for adults. The best indicator for adequate fluid intake is frequent, clear urination.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Norway lobsters on sale at a Spanish market Norway lobsters on sale at a Spanish market
Apple Apple
Apple of two different colors Apple of two different colors
Yellow apple Yellow apple
Markets and Institutions Market Story Problem Markets and Institutions Market Story Problem
Your company advertises all prices on the menu board as a final price, including HST of 13%. A ... Your company advertises all prices on the menu board as a final price, including HST of 13%. A ...
Video: Regulation of GFR: three methods, autoregulation & autoregulation via myogenic mechanism

For a complete list of videos, visit our video library