« 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 246 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?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Although puberty usually occurs in the early teenage years, the world's youngest parents were two Chinese children who had their first baby when they were 8 and 9 years of age.

Not You're Typical Apple Not You're Typical Apple
Main Hall, Trajan's Market Main Hall, Trajan's Market
Apple's Family Apple's Family
Stock Market Tracks Growth in GDP Stock Market Tracks Growth in GDP
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Energy Flow - Trophic Levels and Food

For a complete list of videos, visit our video library