How to determine the number of the variant



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Task 1 Problem of Elasticity


How to determine the number of the variant.
Please, add all the digits of the full date of your birth, divide the received sum by 12.
The remainder of the division is the number of your variant. In case when the remainder of the division is equal to 0, solve the variant № 12.
Example 1. Date of birth 25.09.2001. Let’s find the sum
2 + 5 + 0 + 9 + 2 + 0 + 0 + 1 = 19
=
Remainder of the division is equal to 7. This is the number of the variant.
Example 2. Date of birth 01.09.2000. Let’s find the sum
0 + 1 + 0 + 9 + 2 + 0 + 0 + 0 = 12
= 1
Remainder of the division is equal to 0. The number of the variant is 12.
At the beginning of your work write the number of the variant and confirm the choice of the number by calculations as in Example 1 or 2.
From the document find your option and make tasks.
All calculations should be done on sheets A-4, carefully and in detail, by hand.
Make a photo or scan your detailed calculations, compile it into a single Word document and upload it into MOODLE system.
Do not forget to indicate your name, number of your group and home task number in the file name.
Good luck!


Variant 1. Theme: Elasticity


  1. The table shows quantity demanded at different price level.

Price ($) P

Quantity demanded
(units) Qd

Total Revenue ($)

Price elasticity coefficient

3,80

10




------------------

3,40

20







3,00

30







2,60

40







2,20

50







1,80

60







1,40

70






Questions:



  1. Calculate TR for each price and fill in the table;

  2. Calculate price elasticity coefficient for each price;

  3. Compare coefficient and TR.



  1. When the price of a CD is $ 19 per CD, 25,000 000 CDs per year are supplied. When the price is $ 22 per CD, 34,000 000 CDs per year are supplied. What is the elasticity of supply for CDs.




  1. A fall in the price of X from $11 to $ 7 causes an increases in the quantity of Y demanded from 970 to 1 200 units. What is the cross elasticity of demand between X and Y.



  1. A 25 percent increase in the quantity of spinach demanded results from a 12 percent decline in its price. The price elasticity of demand for spinach is _____________.




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