Estimate price by price elasticity of unitary demand

At the point on the demand curve for RoboMaids where the price elasticity of demand is unitary, the price would be roughly: (i) $10,000, resulting in sales of roughly 16,000 robots monthly. (ii) $13,000, resulting in sales of approximately 13,000 robots per month. (iii) $16,000, resulting in sales of approximately 10,000 robots per month. (iv) $20,000, resulting in sales of about 6,000 robots per month. (v) $23,500, resulting in approximately 1,800 robots being sold each month.

1740_Elasticity and profit.png

I need a good answer on the topic of Economics problems. Please give me your suggestion for the same by using above options.

View Complete Question

Related Questions in Microeconomics

Q : Meaning of utility For economists, the

For economists, the term "utility" signifies: 1) versatility and flexibility 2) rationality 3) pleasure and satisfaction 4) purposefulness.

Q : Example of determining new equilibrium

As per such supply and demand curves for peanuts, there is the: (w) demand for peanuts has fallen. (x) price rises to P1 due to better peanut technology. (y) production of peanuts was initially Q0. (z) new equilibrium price of pe

Q : Problem on opportunity cost of consumer

Refer to the given table. If the economy is producing at production alternative C, the opportunity cost of the tenth unit of consumer goods will be:

Q : Demand perfectly price elastic

Demand is perfectly price elastic when the price for Pixie's cheesy fried grits is a mostly unmeasurably small bit below the: (1) zero. (2) P1. (3) P2. (4) P3. (5) P4.

Q : Depicts shift of the budget line The

The shift of the budget line from cd to ab in the below given figure is consistent with: 1) decreases in the prices of both M and N . 2) an increase in the price of M and a decrease in the price of N . 3) a decrease in money income. 4) an increase in money inc

Q : Pay annual income by perpetuities bonds

When all bonds are perpetuities which pay annual income of $50, at an interest rate of 5% the price of bonds is: (w) $1,000. (x) $500. (y) $100. (z) $750. Can someone explain/help

Q : What is fiscal deficit Fiscal deficit :

Fiscal deficit: When TE (RE + CE) > TR (RR + CR) of the government, excluding borrowing. It is termed as fiscal deficit.

Q : Monopsony and Marginal Resource Cost

The labor monopsonist which doesn’t wage discriminates consists of a marginal resource cost curve [or marginal factor cost curve] which is above the labor supply curve then the firm faces as: (1) Monopsonists encompass market power in the markets for output. (2)

Q : Price elasticities of demand and higher

Price elasticities of demand tend to as: (i) fall as higher prices are charged. (ii) rise as higher prices are charged. (iii) almost always be constant. (iv) not be associated to the length of time. (v) not be influenced by price changes.

Q : Estimate minimum average costs

Robomatic Corporation could attain minimum average costs for RoboMaids when this produced: (1) 4,000 robots per month. (2) 6,000 robots per month. (3) 8,000 robots per month. (4) 10,000 robots per month. (5) 12,000 robots per month.

Discover Q & A

Leading Solution Library

Avail More Than 1422757 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads

No hassle, Instant Access

Start Discovering

18,76,764

1940968
Asked

3,689

Active Tutors

1422757

Questions
Answered

Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!

Submit Assignment