--%>
Assignment Help - homework help

Estimation of price elasticity of supply data

You can calculate approximately a price elasticity of supply by data indicating that: (a) steel production rises 18 % while national income grows 13 %. (b) farmers increase soybean plantings 15 % while prices rise 5 %. (c) Ford raises production when Chevy sales fall since GM raises prices. (d) tennis ball sales slump 8 % while racquet prices jump 12 %.

How can I solve my Economics problem? Please suggest me the correct answer.

   Related Questions in Microeconomics

  • Q : Tax cutting affect the economy How does

    How does tax cuts affect the economy?

    		•
  • Q : Variable costs in short run A monopoly

    A monopoly tends to shut down within the short-run when: (i) price is less than the minimum of average total costs [ATC]. (ii) price cannot cover all overhead costs. (iii) variable costs are not covered. (iv) total costs exceed total revenues. (v) the

    		•
  • Q : Enterprises capability One of my

    One of my friends can't discover the solution of this question. So he is not capable to complete his assignment. Give answer of this question. Are there any limits or constraints onto the enterprise’s capability to grow and change?

    		•
  • Q : Recognizing market demand for a good I

    I have a problem in economics on recognizing market demand for a good. Please help me in the following question. To determine the market demand for a good, add up the: (1) Quantities supplied at each and every price. (2) Quantities demanded at each and every price. (3

    		•
  • Q : Shut down by drastically raise price in

    Mom and Pop Ping-Pong Balls is an established table tennis supply store within a small city. You are the owner of Ping-Pong Megastore as well and you have just opened up a location in their small city. When you set prices so low which Mom and Pop is forced to shut dow

    		•
  • Q : Problem relating to Changes in Demand

    Airlines considerably decreased the number of flights accessible in the year 2005, as compared to flight availability during the year 2000. Passenger mileage was fall. Economists would be least possible to ascribe the decline in airline ticket sales throughout the ear

    		•
  • Q : Percentage change in the real price

    Table describe the average retail price of milk and the Consumer Price Index during 1980 to 1998. Determine percentage change in the real price (1980 dollars) from 1990 to 1995?       

    		•
  • Q : Ownership shares in corporation I have

    I have a problem in economics on Ownership shares in corporation. Please help me in the following question. The Ownership shares in a corporation are termed as: (1) Bonds. (2) Entrepreneurial capital. (3) Common stock. (4) Total worth. (5) Retained equity.

  • Q : Critics of the simple limit pricing

    Critics of the straightforward limit pricing strategy argue about that: (w) sunk costs are not important in deterring entry. (x) for limit pricing to work, there should be a credible threat to keep old output levels. (y) this is rational to expect the

    		•
  • Q : Close down a purely competitive firm in

    Within the short run, there a purely competitive firm will close down its plant(s) and manufacture nothing when: (i) this makes no pure economic profits. (ii) normal profits were unattainable. (iii) P < ATC at all output levels. (iv) accounting pro

    		•