Business, 04.07.2020 14:01 kaylienguyen

Suppose the daily demand for soda is given by P = 4 – (2/3)Q and the daily supply of soda is given by P = 1 + (1/3)Q, where P is the dollar price of a can of soda and Q is the number of cans of soda (in thousands). a. Sketch the demand curve and the supply curve.
Instructions: Use the tools provided to draw the demand and supply curves. Plot each end point (4 points total).
b. How many cans of soda are bought and sold each day? What is the equilibrium price of soda?
Equilibrium quantity: cans
Equilibrium price: $ per can
c. What is the price elasticity of demand for soda at the equilibrium price?
d. What is the price elasticity of supply for soda at the equilibrium price?
e. If the price of one of the inputs used to make soda increases, then what will happen to consumers' total expenditure on soda?
It will decrease.
It will remain unchanged
It will increase.

Answers: 3

Show answers

Other questions on the subject: Business

Business, 21.06.2019 20:30, cajunldy2001

Elizabeth believes her company has discriminated against her because her minority coworkers, who are less qualified, have been promoted ahead of her. which agency should elizabeth contact? - national alliance of business- affirmative action council- equal employment opportunity commission- federal trade commission- fair employment practices agency

Answers: 2

continue

Business, 22.06.2019 10:00, dtaylor7755

How has internet access changed and affected globalization from 2003 to 2013? a ten percent increase in internet access has had little effect on globalization. a twenty percent decrease in internet access has had little effect on globalization. a thirty percent increase in internet access has sped up globalization. a fifty percent decrease in internet access has slowed down globalization.

Answers: 1

continue

Business, 22.06.2019 12:40, notorius315

Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?

Answers: 2

continue

Business, 22.06.2019 15:30, Kiaraboyd9366

The school cafeteria can make pizza for approximately $0.30 a slice. the cost of kitchen use and cafeteria staff runs about $200 per day. the pizza den nearby will deliver whole pizzas for $9.00 each. the cafeteria staff cuts the pizza into eight slices and serves them in the usual cafeteria line. with no cooking duties, the staff can be reduced by half, for a fixed cost of $75 per day. should the school cafeteria make or buy its pizzas?

Answers: 3

continue

You know the right answer?

Suppose the daily demand for soda is given by P = 4 – (2/3)Q and the daily supply of soda is given b...