Suppose the demand curve for a product is given by Q=10-2P+Ps1, where P is the price of the product and Ps is the price of a substitute good. the price of the substitute good is $2.00.

a. Suppose P=$1.00, what is the price elasticity of demand? what is the cross-price elasticity of demand?

b. Suppose the price of the good, P, increases to $2.00. Now, what is the price elasticity of demand, and what is the cross-prices elasticity of demand?

Using the exxon data as an example what would be the market capitalization of penny's pickles if each share is selling for $175.35?

An emerging methodology to integrate the effort of the development team and the operations team to improve the functionality and security of applications is known as

Baskin promotions, inc. sells t-shirts decorated for a variety of concert performers. the company has developed the following budget for the coming year based on a sales forecast of 80,000 t-shirts: sales $ 1,400,000 cost of goods sold 820,000 gross profit 580,000 operating expenses ($100,000 is fixed) 418,400 operating income 161,600 income taxes (30% of operating income) 48,480 net income $ 113,120 cost of goods sold and variable operating expenses vary directly with sales, and the income tax rate is 30% at all levels of operating income. if the concert season is slow due to poor weather, baskin estimates that sales could fall to as low as 60,000 t-shirts. assume baskin actually achieves the 60,000 unit sales level, and that net income actually earned at this level was $70,000. a performance report would indicate that net income was: