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1. Given the on-going pandemic, the sale of Willis cleaning products jumped 15% to Rs. 425 million and increased income by 28%. Household sales surged 7% and profits rose 65% as both prices and demand increased and a germ-averse public stocked up. Assume yourself as an ambitious manager of Willis cleaning products, who wants to use these changes in the 4th quarter to calculate the own-price elasticity of demand. You have the data on changes in price and changes in quantity sold during the quarter.
a. What would be the main challenge they would face in calculating a reliable estimate of elasticity?
a. Suppose for the 3rd quarter this challenge did not exist, rather the challenge was one of data availability. All the manager knows, a few minutes before a quickly called meeting to discuss 3rd quarter results, is that the price of a pack of 35-count Clorox Wipes increased by 12% while revenue from those wipes increased by 5%. Calculate the own-price elasticity of demand for Clorox Wipes in this quarter.
Explain why Mercantilism was advanced by countries in the past indicating its merits and
demerits.
How concept of elasticity help in correcting balance of payments
quantitative easing effect on economic activity
Qd=1200-2P and Qs-3p what is the equilibrium price and quantitu
1. A marketing research conducted by firm company result shows the firms production function and its demand as the following equation. And the demand function is given by 100. Using the given information answer the following question.
a. If you are this firms manager how are you suggest your firms owner to add the input x in order to be at maximum average production? Support your suggestion with evidence from the production function given.
b. If the firms owner decide to add the 10th x what is your advice to this owner as an economist? Support your answer with graph
c. If the firms market is perfectly competitive, how many outputs must be produced to be at maximum profit? At maximum point how many input(x) is required? Hint assumes the above equation as total cost of production.
d. Identify and show the production stage of the given production function. After identifying each stage recommend the owner as an advisor of this company at each final points of the stage.
For the following total-revenue and total-cost functions of a firm:
TR = 22Q - 0.5Q ^ 2 ,
TC=\ Q^ 2 -8.5Q^ 2 +50Q+90
(a) Determine the level of output at which the firm maximizes its total profit. (b) Determine the
A firm's total-revenue and total-cost functions are
TR=4Q
TC=0.040¹-0.90³ + 100+5
(a) Determine the best level of output. b) Determine the total profit of the firm at its
What is the difference between intra intemporal choice and inter temporal choice in economics?
Discuss the goals of regulatory frameworks with regards to reasons governments manage regulate-es and use different regulators to policy the financial markets.
