1. Qiqi, a extremely motivated entrepreneur plans on applying for a vocation hypothecation from Bank of America. She finds out that the percent alter in figure of vocation hypothecations growthd to 5% terminal month. This resulted in a 50% percent alter in share call-fored from 1000 applicants to 500 applicants. What is the vocation hypothecation’s figure elasticity?
2. Angeline, a flashing garden tyro finds out that the iPhone 8 was proper launched this elapsed week in Cupertino, CA. She along delay the thousands of consumers plans on purchasing the iPhone 8 from Best Buy due to a figure lower from $899.99 to $649.99. Apple expects to see the share call-fored for iPhone 8 to agitate from 2 pet to 3 pet by the end of the year. What is the iPhone 8’s elasticity of call-for?
3. Kenny is a terrific athlete as he is the leader of his basketball team. The championship diversion is this weekend, so he plans on buying new shoes for his complete team from Dick’s Sporting Goods, but realizes that the figure of socks growthd from $5.00 a span to $8.00 a span. Now, Kenny singly consumes 3 Nike Air Jordan shoes instead of his primal fixed of purchasing 10 shoes. What is the peevish figure elasticity of call-for for a Nike Air Jordan shoe delay honor to a sock’s figure?
4. Franklin is a skilled automatic engineer, the principal of his drudge league at BMW, and an excited chef by shade. Collective bargaining talks look to acid delay executives and looks as if a pay cut conquer be implemented by the end of the year. Many employees conquer be monstrous, distinctly his salary of $120,000 a year moderate to $100,000 a year. This expectancy of a pay cut has alterd his decline habits for violent caught salmon of 40 per week to 25 per week. Franklin now plans on purchasing over farm exorbitant salmon in lieu of violent caught salmon increasing his decline from 10 per week to 60 week. What is Franklin's pay elasticity of call-for for farm exorbitant salmon? What is Franklin's pay elasticity of call-for for violent caught salmon?
5. Dell has bybygone through some trade challenges these elapsed few years, distinctly delay the desktop trade. If the figures of desktop computers lowers by 14% terminal territory resulting in an growth of 12% in share call-fored, then Dell conquer lower the share gifted of desktops by 10%. What is the figure elasticity of give for Dell desktops?
6. The figure of cell phones rose subordinately excellent from $500.00 to $550.00 this elapsed month, and Samsung institute out environing Apple’s acquit of the iPhone X, so in change it determined to growth evolution of its Galaxy S8 from 150,000 to 300,000 to equal delay its equal. What is the figure elasticity of give for Galaxy S8 phones?
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