Discuss with examples the factors impacting demand for a product

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Discuss with examples the factors impacting demand for a product

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Consumer buys 10 units of Good A when the price of Good B is $5. When the price of Good B rises to $6 (the price of Good A remaining unchanged) the consumer buys 14 units of Good A. Part A: Using an appropriate formula, calculate this Consumer’s cross Elasticity of demand for Good A. Show your working. Part B: Is Good A, a substitute for, or a complement to, Good B? Explain your reasoning.
A monopolist can sale 25 units of output per day for a price of k11.50 each and 26 units of output per day for a price of k11.50 each. The marginal revenue earned from the 26th units sold is
discuss what causes difference in time in America, Europe and kenya
Given the following information Price of burger(Pb)=P50 Price of spaghetti (Ps)= P75 MU of burger(MUb)=180 utils MU of spaghetti(MUs)= 225 utils Required: A. Compute for the consumers equilibrium B. What is the decision of the consumers ? Will he buy burger or spaghetti ? Justify your answr.
Suppose that the consumer is asked to contemplate a gamble with a probability of 60% of winning Birr 10,000 with a utility of 10 utils, and a 40% probability of winning Birr 15,000 with a utility of 12 utils. A. What will be the expected income and expected utility of the consumer? B. If the utility of this consumer from a risk free alternative which gives him an income equal to the expected income of the risky alternative given above is equal to 11 utils, is this consumer risk lover or risk averse? Why? Illustrate your answer with the help of a diagram
The demand and supply functions of a good are given by QD = 24 − 3P; QS = 4 + 2P where P, QD and QS denote price, quantity demanded and quantity supplied, respectively. Find the inverse demand and supply functions and the market equilibrium price and quantity.
Years After-tax income R 1 200 000 2 500 000 3 300 000 4 400 000 5 700 000 6 300 000 If the average rate of return is 8,421%, then the original investment (rounded off to the nearest R1 000) was [1] R2 400 000. [2] R4 750 000. [3] R40 000. [4] R1 497 000. [5] none of the above.
Does a monopolistic competitor produce too much or too little output compared to the most efficient level? What practical considerations make it difficult for policymakers to solve this problem?