ECON UB 0015

New York University

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Exam (elaborations)

NYU-Competitive Analysis-Midterm practice solutions.
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22

November 2022

2022/2023

A+
1. Webflicks. When Webflicks increased monthly subscription fees from $15 to $17, 16% of its subscribers switched to alternative providers. (a) Provide an estimate of Webflicks demand elasticity. Answer: Using the percent variation method, we get ≈ −16% 17−15 15 = −1.2 Alternatively, we can use the logarithm’s approach. A drop of 16% corresponds to a change from 100 to 84. ≈ log(84) − log(100) log(17) − log(15) = −1.393 (b) Assuming that Webflicks’ demand cu...
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