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- What would be the likely impact of an increase in the price of petrol on the market for pizzas in Sydney. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.KSU Products has just carried out a survey of the demand fortheir guidebooks to spoken Arabic. They have found thefollowing results over the last six months.Sales revenue 356 398 372 360 365 350Price ($) 4.5 4.0 4.2 4.5 4.3 4.8a. Estimate an appropriate demand relationship; Q=aPb.b. Make a forecast of sales revenue for a price of $5, statingany assumptions.c. Estimate the price elasticity of demand for the data as a whole.d. If price is raised 10 per cent in general terms, what willhappen to revenue?Graphical and Intuitive Optimization Consider a consumer who must allocate their available income between the consumption of two goods, Beer and Pizza. Their preferences over Beer and Pizza adhere to the usual assumptions we have made about preferences. The indifference curve map below reflects their preferences and the budget constraint reflects current income and prices. In the simplest terms possible, define or explain the term "Marginal Utility of Beer" (MUB). In the simplest terms possible, define or explain the term "Marginal Rate of Substitution of beer for pizza" (MRSBP). In the simplest terms possible, intuitively explain the meaning of MUB/PB, where PB represents the price of one unit of Beer.
- The demand for a commodity generally decreases as the price is raised. Suppose that the demand for oil (per capita per year) is D(p)=1000//p barreis, where p is the price per barrel in dollars. Find the demand when p=55. Estimate the decrease in demand if p rises to 56 and the increase in demand if p is decreased to 54. The demand D(55)= The decrease in demand =? barrels. The increase in demand =? barrels.Note: please answer the need 7and,8P Question 12 The equation for the 1.5 mile run/jog test is: VO,max (mi/kg/min) = 3.5 + [483 + (time in min.)] Jackson runs the 1.5 miles in 9 minutes. What information is obtained from this equation? O Jackson's VO2 max is 57.2ml/kg/min O Jackson's average VO2 running at a 6 minute mile pace is 57.2ml/kg/min O Jackson burns 30 calories per minute at thsi pace O Jackson's absolute VO2 is 57.2ml/kg/min
- This is the question on my price theory economics homework. I reworked the equations so that P (vertical y axis) was on the left of the equation and Q the x-axis. I, however, cant seem to figure it out. I tried submitting this question earlier, but it wasnt able to be answered. I added the multiple choice options. I reworked Q=1/2P to P=2Q P(with $5 tax)= 2Q+5 I reworked Q=20-2P to P=10-1/2Q Let supply be Q=1/2 P and Demand be Q=20-2P. If a Tax of $5 is imposed the DWL=......., the total tax collected is .........of which the burden of the tax on the consumer = ........... a. 2, 10, 5 b. 5, 10, 2 c. 10, 2, 5 d. None of the aboveQuestion 1 Table 1: Consumption of Bread and Flour Consumer Consumption Consumption 1 2 3 4 5 of Bread of Flour 10 90 026205 6 15 10 120 50 75 A supermarket has employed you to do some analysis of their customers' shopping. They have provided you with the data in Table 1. Based on the data in Table 1, explain what preference type you would use in your analysis. (10 marks)2. Supose that a consumer has utility function U with U (₁,22) = x1426, where ₁ and ₂ are demand of commodity 1 and 2. Suppose that the price of commodity 1 and 2 is $3 and $5, respectively. This consumer has money m = 12 to spend and wants to maximize utility with constraint the money. (a) Write the Lagrangian function. (b) Find the critical point using first order condition. (c) Find the Hessian matrix to check whether the critical point is maximiser or minimiser. (d) Find the maximum utility.
- For some products, marketers can combine education level with other data like occupation and income to obtain Multiple Choice O complete profiles of individual consumers. O predictions of purchasing behavior. a sense of consumers' regional cultuk. consumers' value sensitivity quotient (VSO)(Quasilinear Preferences) A consumer's preferences over two goods are described by the following utility function: u(x₁,x₂) = x₂ + Inx, wherex, is the amount of good 1, and is the amount of good 2. Her goal is to choose the best affordable bundle, and she has $2 available. Quantities must be non- negative, but decimals are fine. (a) Find the optimal bundle ifp₁ = P₂ = 1. (b) Now find the optimal bundle ifp₁ = 1 but = 3. P2 U o 1. (Queellinear Preferences) A consumer's preferences over two goods are described by the fol- lowing utility function. wfx)=₂+x where ay is the amount of good 1, and ag is the amount of good 2. Ter goal is to choose tan best affordable bundle, and she has 82 available. Quantities naust he non negative, but decimals are fine. (a) Find the optimal handle if p-2-1. Chy Now End the optimal bandle if p; - 1 bus p: – 3.(? 300 275 250 Total Revenue 225 200 175 150 125 100 75 50 25 Demand 10 20 30 40 50 60 70 80 90 100 110 120 QUANTITY (Bikes) On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $50, $75, $100, $125, $150, $175, and $200 per bike. PRICE (Dollars per bike)
