Some questions with answers managerial economics

Managerial Economics Q.1.0) For each of the following events, assume that both the add persuade or the take in plica ( non both shifted). Explain which bending shifted and indicate the direction of the shift. a.From 1950 to 1979 the bribe paid to return pickers increase enchantment the number of harvest pickers employed decreased. b.During the same head the price of radio sets declined, charm the number of radio sets purchased increased. c.Housing prices ar rising entirely to a greater extent houses ar sold. d.Australian Airlines reduces its average trim f ar by 30 percent in piece to attract to a greater extent customers. Ans. a) In this encase the number of the harvest-festival pickers has decreased while the engage of the fruit pickers has increased. Thus, the demand has not changed. The sum 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 purchased increased. This instrument the demand has increased. The demand curve has shifted to the right. c) In this case the lodgment prices argon rising but more houses were sold. The demand of the houses has increased. The demand curve has move 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 differ ent types of elasticities? What are the fact! ors that affect each type of elasticity? Of what use are these elasticities to business? Ans. Elasticity is a measure of the reactivity of unrivaled variable to changes in another variable; the percentage... If you exigency to enchant a full essay, order it on our website: BestEssayCheap.com

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