Discuss how much will your firm''s total revenues change, Macroeconomics

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Discuss how much will your firm''s total revenues change

Suppose you are the manager of a firm that receives revenues of $40,000 per year from the product X and $90,000 per year from the product Y. The own price elasticity of demand for product X is -1.5, and cross-price elasticity of demand among product Y and X is -1.8. Discuss how much will your firm's total revenues change if you increase the price of good X by 2 percent?

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Macroeconomics: Discuss how much will your firm''s total revenues change

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Macroeconomics: Discuss how much will your firm''s total revenues change

Reference No:- TGS0873179

Have a Question? (oR Write a Review)

Recent Questions Asked Macroeconomics

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Request for Solution File

Ask an Expert for Answer!!

Macroeconomics: Discuss how much will your firm''s total revenues change

Reference No:- TGS0873179

Recent Questions Asked Macroeconomics

Q : Determine countably infinite sets

Q : Write out a closed form expression

Q : Determine the sum of the dvd

Q : Find out a generating function

Q : Discuss how much will your firm''s total revenues change

Q : Calculate the profit maximizing price that theater charge

Q : Describe how these determinants affect each other

Q : Does a or b offer jamal a higher expected prize

Q : Determine what prices maximize the revenue for ski tickets

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