Economics 103 ETSU Economics Questions

Description

pleas answer all questions carefully.1) Is the following statement true or false? Explain.The own price elasticity is constant for linear demand.2) Suppose you are a consultant for a Detroit Ford dealer. Let the market price be at $25,000 for a Ford Taurus. If the dealer has a stock of unsold 2020 Ford Taurus, and you know that the elasticity of demand for this dealer’s cars is –1.5, would you recommend any change in price? Why?

2 attachmentsSlide 1 of 2attachment_1attachment_1attachment_2attachment_2.slider-slide > img { width: 100%; display: block; }
.slider-slide > img:focus { margin: auto; }

Unformatted Attachment Preview

Is the following statement true or false? Explain.
The own price elasticity is constant for linear demand.
CALA Rubric (2) (16)
Criteria
Ratings
Pts
1 pts
Comprehension:
Student’s answer reflects ability to
comprehend concepts relevant to questions
asked.
5 pts
90th
Percentile
4 pts
75th
Percentile
3 pts
Median
2 pts
25th
Percentile
O pts
Missing
10th
Percentile
Answer
5 pts
4 pts
Application:
Student’s answer reflects ability to apply
concepts relevant to questions asked.
5 pts
90th
Percentile
3 pts
Median
75th
Percentile
2 pts
25th
Percentile
1 pts
10th
Percentile
O pts
Missing
Answer
5 pts
1 pts
Logic:
Student’s answer reflects ability to build a
logical explanation.
5 pts
90th
Percentile
4 pts
75th
Percentile
3 pts
Median
2 pts
25th
10th
Percentile
O pts
Missing
Answer
5 pts
Percentile
3 pts
1 pts
Accuracy:
Student’s answer reflects ability to
accurately derive a conclusion.
5 pts
90th
Percentile
4 pts
75th
Percentile
Median
2 pts
25th
Percentile
10th
Percentile
O pts
Missing
Answer
5 pts
Total Points: 20
Suppose you are a consultant for a Detroit Ford dealer. Let the market price be at $25,000 for a Ford Taurus. If the
dealer has a stock of unsold 2020 Ford Taurus, and you know that the elasticity of demand for this dealer’s cars is
1.5, would you recommend any change in price? Why?
CALA Rubric (2) (17)
Criteria
Ratings
Pts
5 pts
4 pts
1 pts
3 pts
Median
Comprehension:
Student’s answer reflects ability to
comprehend concepts relevant to questions
asked.
90th
Percentile
75th
Percentile
2 pts
25th
Percentile
10th
Percentile
O pts
Missing
Answer
5 pts
4 pts
2 pts
1 pts
Application:
Student’s answer reflects ability to apply
concepts relevant to questions asked.
5 pts
90th
Percentile
3 pts
Median
75th
Percentile
25th
Percentile
10th
Percentile
O pts
Missing
Answer
5 pts
4 pts
Logic:
Student’s answer reflects ability to build a
logical explanation.
5 pts
90th
Percentile
3 pts
Median
75th
Percentile
2 pts
25th
Percentile
1 pts
10th
Percentile
O pts
Missing
Answer
5 pts
5 pts
Accuracy:
Student’s answer reflects ability to
accurately derive a conclusion.
4 pts
75th
Percentile
3 pts
Median
90th
Percentile
2 pts
25th
Percentile
1 pts
10th
Percentile
O pts
Missing
Answer
5 pts

Purchase answer to see full
attachment

Tags:
economics

price elasticity

curve

User generated content is uploaded by users for the purposes of learning and should be used following FENTYESSAYS.COM ESSAY’s honor code & terms of service.