Chapter 4: Price Elasticity
10/01
I. Elasticity
A. Price Elasticity of Demand ED
A.1.
Law of Demand: inverse relationship with price and demand
A.1.a.
A.2.
Price elasticity gives quantitative amount of increase/decrease
Measures in a standardized way how
17)
a.
0.0668072
b.
0.10986005
c.
0.2198419
0.85209353
answer:
d.
591.887297
0.63225163
18)
a.
0.10155742
b.
0.15865525
c.
20.0388269
20)
a.
0.17878638
b.
0.63055866
c.
0.04947147
23)
a.
0.02275013
b.
0.97724987
0.30853754
answer:
0.66871233
c.
0.84134475
Experiment 1.
1. My penny was from 1964
2. Yes , for about every 4 to 5 times it landed tails it would then land heads.
3. Yes my penny is bias for tails because out of the 100 times I spun it, the penny landed on tails 77 times and on
ded on tails 77 tim
3) a. $582.90
b. The average cost for windows operating system: $732.20.
The average cost for android operating system: $428.50
The cost for windows operating system is much higher.
c. 20% of the tablets use a CPU manufactured by TI OMAP
d. 40% of the tab
34)
a. No this isn't a binomial experiment.
b.
0 0.01346274
1 0.07249169
2 0.17565295
3 0.25221962
4 0.23766849
5 0.15357041
6 0.0689098
7 0.02120302
8 0.00428138
9 0.0005123
10 2.7585E-005
The probability that none of the teenagers use pandora is 1%
c.
T
Chandler Vanderbeek
American National Government
Debate Paper
December 1, 2015
John F. Kennedy Campaign/Vice President
John Fitzgerald Kennedy ran for President during one of the most significant
eras of the United States of America. The election of 1960
3)
a.
b.
c.
80+-1.96*1.936=83.794 or 76.206
80+-1.96*1.369=82.683 or 78.631
n=120
The effect of a larger sample size is a larger confidence interval
7)
z=1.96
x=1599
=600
n=50
166.308459 the .05 "alpha is the opposite spectrum of the z score, use a given
3)
Random
Team
Number
New York
0.178624
Boston
0.290197
Baltimore
0.578370
Tampa Bay
0.867778
Toronto
0.965807
Minnesota
0.811810
Chicago
0.562178
Cleveland
0.960271
Detroit
0.253574
Kansas City
0.326836
Oakland
0.288287
Anaheim
0.895267
Texas
0.500879
Se
Microeconomics Chapter 6 notes
Price of Elasticity of Demand
- Measures buyers responsiveness to price changes
- Elastic demand
- Sensitive to price changes
- Large change in quantity
- Inelastic demand
- Insensitive to price changes
- Small change in qua
Macroeconomics
Prof. Shawky El-Toukhey
Spetember 13th 2016
Slope of consumption curve
(y = a + bx)
so
C = a +by example.C = 10 + .5/100 C = 60
* Because there is a plus in the equation above the slope will be positive.
Chapter 2 the market system and the
Chapter 7 Micro Utility Maximization
Law of Diminishing Marginal Utility
- As consumption of foods or services increases, the marginal utility obtained from
each additional unit of a good or service decreases
- Explains downward sloping demand curve
Termi
Micro Chapter 3 Notes
Demand, Supply & Market Equilibrium
Markets
- Interaction between buyers and sellers
- Markets May be:
-Local
-National
-International
- Price is discovered in the interactions of buyers and sellers
Demand
- Schedule or curve
- Amoun
BE-201 Principles of Microeconomics
Fall 2016
Exam 1 Study Guide
Exam will consist of 25 multiple choice questions (1 point each), two graphical or
numerical questions (10 points each, 20 points total), and one out of two potential essay
questions (10 poi
Nick Salegna
Professor Strafaci
10/22/14
Macro Economics
European Union
When the European Union was founded in 1948, it was set up with the idea to promote
stability and economic cooperation between the countries spread throughout Europe. Another
function
Microeconomics
Prof. Shawky El-Toukhey
September 13, 2016
Chapter 1
Opportunity Cost where you elect to put your time in.
Scientific Method
1) Observe
2) Form Hypothesis + Test Hypothesis
3) Analyze Results
4) Conclude + Accept Hypothesis
Micro = Decision