Some questions with answers managerial economics

Managerial Economics Q.1.0) For each of the following events, assume that either the add persuade or the take in congregation ( non both shifted). Explain which bending shifted and indicate the direction of the shift. a.From 1950 to 1979 the fee paid to return pickers increase duration the number of growth pickers employed decreased. b.During the same head the price of radio sets declined, term the number of radio sets purchased increased. c.Housing prices ar rising merely more(prenominal) houses ar sold. d.Australian Airlines reduces its average trim fargon by 30 percent in piece to attract more customers. Ans. a) In this encase the number of the result pickers has decreased while the earnings of the fruit pickers has increased. Thus, the demand has not changed. The generate of the fruit pickers has decreased, hence, the fruit pickers supply has shifted to the left. b) In this case the price of the radio sets declined while the number of radio sets purch ased increased. This instrument the demand has increased. The demand curve has shifted to the right. c) In this case the lodgment prices be rising but more houses were sold. The demand of the houses has increased. The demand curve has go to the right. d) In this the Australian Airlines reduces its average vapid fare by 30 percent in golf club to attract more customers. The aim here is increase the gross in the future. The supply is been increased to accommodate the increasing customers. The supply curve is moved to the right. Q.2.0) Explain the meaning of elasticity? What are the different types of elasticities? What are the factors that affect each type of elasticity? Of what use are these elasticities to business? Ans. Elasticity is a measure of the reactivity of unrivalled variable to changes in another variable; the percentage... If you exigency to fail a full essay, order it on our website: BestEssayCheap.com

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