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    A firm produces a normal good and a competitor makes a subtitute good it markets under the name "Y". Good Y is an inferior good. How will the demand for good X change if consumer incomes increase?

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    A firm produces a normal good and a competitor makes a subtitute good it markets under the name "Y". Good Y is an inferior good. How will the demand for good X change if consumer incomes increase?

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    Attribution Non-Commercial (BY-NC)
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    74 views1 page

    Latihan Soal Quantitative Demand Analysis and Consumer Behavior

    Uploaded by

    Aim Endah
    A firm produces a normal good and a competitor makes a subtitute good it markets under the name "Y". Good Y is an inferior good. How will the demand for good X change if consumer incomes increase?

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
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    MINISTRY OF NATIONAL EDUCATION

    FACULTY OF ECONOMICS BRAWIJAYA UNIVERSITY


    JL. M.T. Haryono 165 Malang 65145 Phone. 0341-551396, 584726 Fax. 0341-553834 Email: info@fe.unibraw.ac.id Website: http://www.fe.unibraw.ac.id

    CONCEPTUAL AND COMPUTATIONAL QUESTIONS OF EVEN SEMESTER 2012/2013 MANAGEMENT DEPARTMENT Course : Managerial Economics Lecture : Dimas Hendrawan, SE., MM. Duration : 60 minutes Notification : Closed Book Answer all of the questions:
    1. The X corporation produces a good (called X) that is a normal good. Its competitor, Y corporation, makes a subtitute good that it markets under the name Y. Good Y is an inferior good. a. How will the demand for good X change if consumer incomes increase? b. How will the demand for good Y change if consumer decrease? c. How will the demand for good X change if the price of good Y decrease? 2. An economic consultant for X corp. recently provided the firms marketing manager with this estimate of the demand function for the firms product: Where represents the amount consumed of good X, is the price of good X, is the price of good Y, I is income, and represents the amount of advertising spent on good X. Suppose good X sells for $200 per unit, good Y sells for $15 per unit, the company utilizes 2,000 units of advertising, and consumer income is $10,000. How much of good X do consumers purchase? Are goods X and Y subtitutes or complements? Is good X a normal or an inferior good? Graph the demand curve for good X. 3. See the table below: Price of software

    Quantity of Own Price Software Sold Elasticity $0 80 ... 5 70 ... 10 60 ... 15 50 ... 20 40 ... 25 30 ... 30 20 ... 35 10 ... 40 0 ... a. Complete the table b. Graph the demand curve, TR curve, and MR curve c. Describe the graph completely

    Total Revenue ... ... ... ... ... ... ... ... ...

    Marginal Revenue ... ... ... ... ... ... ... ... ...

    4. A consumer must divide $250 between the consumption of product X and product Y. The relevant market prices are and a. Write the equation for the consumers budget line. b. Illustrate the consumers opportunity set in carefully labeled diagram. c. Show how the consumers opportunity set changes when the price of good X increase to $10. How does this change alter the market rate of subtitution between goods X and Y?

    --------------Good Luck--------------

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