Microeconomics (7th Edition)
7th Edition
ISBN: 9780134737508
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Question
Chapter 1.A, Problem 3PA
To determine
Calculation of percentage changes in sales.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solution
Students have asked these similar questions
can you explain this graph.
Consider that the quantity of Milk A sold will increase
by 50%, the sales revenue of Milk A will decrease by
25%, and the price is determined by sales revenue
divided by quantity sold. Which of the following best
describes the expected change in Milk A's price in
April, compared to March?
January
February
March
Milk A
Quantity Sold Sales Revenue Quantity Sold
500
800
400
$3,000
$4,400
$2,400
Milk B
1200
1500
950
Select the single best answer:
A. increase by 25%
B. decrease by 50%
C. decrease by 25%
D. decrease by 15%
E. no change
Sales Revenue
$5,000
$6,000
$4,400
Quantity Sold
Milk C
600
550
700
Sales Revenue
$3,400
$3,300
$5,000
Please explain this graph in words
Chapter 1 Solutions
Microeconomics (7th Edition)
Ch. 1.A - Prob. 1PACh. 1.A - Prob. 2PACh. 1.A - Prob. 3PACh. 1.A - Prob. 4PACh. 1.A - Prob. 5PACh. 1.A - What is the area of the triangle shown in the...Ch. 1.A - Prob. 7PACh. 1 - Prob. 1TCCh. 1 - Prob. 2TCCh. 1 - Prob. 1.1.1RQ
Ch. 1 - Prob. 1.1.2RQCh. 1 - Prob. 1.1.3PACh. 1 - Prob. 1.1.4PACh. 1 - Prob. 1.1.5PACh. 1 - Prob. 1.1.6PACh. 1 - Prob. 1.1.7PACh. 1 - Prob. 1.1.8PACh. 1 - Prob. 1.1.9PACh. 1 - Prob. 1.1.10PACh. 1 - Prob. 1.1.11PACh. 1 - Prob. 1.2.1RQCh. 1 - Prob. 1.2.2RQCh. 1 - Prob. 1.2.3RQCh. 1 - Prob. 1.2.4RQCh. 1 - Prob. 1.2.5PACh. 1 - Prob. 1.2.6PACh. 1 - Prob. 1.2.7PACh. 1 - Prob. 1.2.8PACh. 1 - Prob. 1.2.9PACh. 1 - Prob. 1.2.10PACh. 1 - Prob. 1.2.11PACh. 1 - Prob. 1.2.12PACh. 1 - Prob. 1.2.13PACh. 1 - Prob. 1.3.1RQCh. 1 - Prob. 1.3.2RQCh. 1 - Prob. 1.3.3RQCh. 1 - Prob. 1.3.4PACh. 1 - Prob. 1.3.5PACh. 1 - Prob. 1.3.6PACh. 1 - Prob. 1.3.7PACh. 1 - Prob. 1.3.8PACh. 1 - Prob. 1.3.9PACh. 1 - Prob. 1.3.10PACh. 1 - Prob. 1.3.11PACh. 1 - Prob. 1.4.1RQCh. 1 - Prob. 1.4.2RQCh. 1 - Prob. 1.4.3PACh. 1 - Prob. 1.4.4PACh. 1 - Prob. 1.1CTECh. 1 - Prob. 1.2CTE
Knowledge Booster
Similar questions
- On September 28, 2012. The Wall Street Journal reported that in the second quarter, the number of cellphone subscribers on contract plans rose just 0.7% from the year before, to 219 million, according to UBS AG. The number of prepaid customers grew about 11.7% to 71 million. How many prepaid customers were there in the second quarter of 2011?arrow_forwardAsap plzzzzarrow_forwardOn the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. TOTAL REVENUE (Dollars) 1460 1320 1180 1040 900 760 620 480 340 200 + 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue ? According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of scooters is currently $45 per scooter, shown as point B on the initial graph. Because the demand between points A and B is ▼, a $15-per-scooter increase in price will lead to in total revenue per week. In general, in order for a price increase to cause a decrease in total revenue, demand must bearrow_forward
- On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per scooter. TOTAL REVENUE (Dollars) 1460 1320 1180 1040 900 760 620 480 340 200 0 15 30 45 60 75 90 105 120 135 150 165 180 195 PRICE (Dollars per scooter) Total Revenue ?arrow_forwardPart C 3. The manager of a certain gasoline station wants to forecast the demand for the unleaded gasoline next month so that the proper number of gallons can be ordered from the distributor. The manager has accumulated the following data demand for unleaded gasoline from sales during the past eight months. Month Gasoline Demanded (gallons) Mar 900 Given that the forecast for March is 920. Apr 755 May 650 Jun 550 Jul 625 Aug 730 Sept 820 Oct 1 100 a. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.25. b. Compute the exponential smoothed forecast for the demand from April to November. Use a = 0.45. c. Plot the actual demand and the forecasts determined in part a and b on the same graph and compare them. d. Make a comparative analysis out of your answers in the plotted data. (3-5 sentences)arrow_forwardfast please 35.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
Exploring EconomicsEconomicsISBN:9781544336329Author:Robert L. SextonPublisher:SAGE Publications, Inc
Exploring Economics
Economics
ISBN:9781544336329
Author:Robert L. Sexton
Publisher:SAGE Publications, Inc