Please answer last 2 questions. • 1) The San Diego Zoo is contemplating a stuffed panda bear advertisingpromotion. Annualized sales data from local shops marketing the "Can'tBear it When You're Away" bear indicate that:Q = 50,0001,000P• where Q is Panda bear sales and P is price.• a)• b)• c)• d)• e)How many pandas could the zoo sell at $30 each?What price would the zoo have to charge to sell 25,000 pandas?At what price would panda sales equal zero?How many bears could be given away?Calculate the point price elasticity of demand at a price of $10.

1) Quantity demanded in economics refers to the total measure of a service or item which consumers…

• 1) The San Diego Zoo is contemplating a stuffed panda bear advertising promotion. Annualized sales data from local shops marketing the "Can't Bear it When You're Away" bear indicate that: Q = 50,000 1,000P • where Q is Panda bear sales and P is price. • a) How many pandas could the zoo sell at $30 each? • b) • c) • d) • e) What price would the zoo have to charge to sell 25,000 pandas? At what price would panda sales equal zero? How many bears could be given away? Calculate the point price elasticity of demand at a price of $10.

• 1) The San Diego Zoo is contemplating a stuffed panda bear advertising promotion. Annualized sales data from local shops marketing the "Can't Bear it When You're Away" bear indicate that: Q = 50,000 1,000P • where Q is Panda bear sales and P is price. • a) How many pandas could the zoo sell at $30 each? • b) • c) • d) • e) What price would the zoo have to charge to sell 25,000 pandas? At what price would panda sales equal zero? How many bears could be given away? Calculate the point price elasticity of demand at a price of $10.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter9: Applications Of Cost Theory

Section: Chapter Questions

Problem 2.5CE

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