2. The price p and quantity q sold of a certain product obey the demand function q =-30p + 600, 0 sps 20. (i) Express the revenue R as a function of q. (ii) What is the revenue if 10 units are sold?
Q: (2) The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q…
A: We have given that the demand function is q=800-20p .... (1)
Q: 1. The demand equation of a good is given by P+2Q-20 and the total cost function is Q³-8Q2+20Q+2 a)…
A: Given Demand equation of a good: P+2Q=20 ... (1) Total cost function: TC =Q3-8Q2+20Q+2…
Q: 2- The demand function for sugar is given by the function: Qd=30-0.6P. Find Qd for: a- P=5 b- P=15…
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Q: 6. At a specific company, the demand equation for water bottles is given by p = 400 – 4q².
A: Elasticity is given by, e=dqdp×pq
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Q: 6) a. Given that f is a differentiable function of x, show that the following notation of elasticity…
A: We are going to use rules of differentiation to answer this question.
Q: If the demand function is P = (1/3)Q - 500 + 2500 what value of Q maximises Total Revenue?
A: The total revenue is the market value of all the goods and services sold in the market. It is…
Q: price elasticity of its product is -2.5 and the income elasticity of its product is 1.5.
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
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A: Given; Demand function; Qd=9.3-0.5P Price; P=2 Quantity:- Q=9.3-0.5PQ=9.3-0.5(2)Q=9.3-1Q=8.3
Q: 3. Suppose the demand is given by the following function: Q = 2000 - 250*P. At what price per item…
A: Below is the given value:Demand function, Q=2000-250P
Q: b) A gaming company works out a demand function for its sale of a new product to be: F (p)=4800-60p…
A: Given information: A gaming company works out a demand function for its sale of a new product to be:…
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Q: 2. Assume equations 1 and 2 below were estimated from the data gathered that will represent the…
A: Given information Qdx=65000-11.25Px+15Py-3.75I+7.5A--(1) Qsx=7500+14.25Px-15Pz-3.75C---(2) equation…
Q: 3. Assume equations 1 and 2 below were estimated from the data gathered that will represent the…
A: Introduction We have given demand and supply function. Demand function is Q dx = 65,000 - 11.25 Px +…
Q: he demand equation for a product is p = 29 -0.01q Write the revenue as a function of q
A: p = 29 -0.01q
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A: Price elasticity of demand (PED) refers to the economic measure of the percentage change in quantity…
Q: 2. Assume equations 1 and 2 below were estimated from the data gathered that will represent the…
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A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and…
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A: Given : QC=10,000-20PC Demand curve for the above is given below.
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A: We have Demand function: Q=300-4P Inverse demand function: P=75-0.25Q ... (1) Cost…
Q: The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q =…
A: Answer: Given, Demand equation: q=800-20p and 0≤p≤40 First of all, let us find the range of q…
Q: 4. It is known that the demand function of an item P = 1000-2x and TC-x+790x+600. Define: • The…
A: A demand function expresses the relationship between quantity demanded of a good and its price. The…
Q: 6. At a specific company, the demand equation for water bottles is given by p= 400 – 4q². -
A: The demand function shows the quantity demanded of a good at each price level. If we plot the demand…
Q: A. Assume that the demand function is equal to: Qd = 5,000 - 1,000P, where price range is P1.00 to…
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
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A: Solution-
Q: . Suppose your marketing research department estimates the demand for your company’s product as Qx=…
A: Price elasticity of demand (Ep)= ∆q/∆p×p/q Derivative of Q with respect to px (∆q/∆p) = -11 Q( at…
Q: 3. Assume equations 1 and 2 below were estimated from the data gathered that will represent the…
A: Note:- Since we can only answer up to three subparts, we'll answer first three. Please repost the…
Q: 1. Assume equations 1 and 2 below were estimated from the data gathered that will represent the…
A: Given that: Qdx=65,000-11.25Px+15PY-3.75I + 7.5AQsx=7,500+ 14.25Px-15Pz-3.75C PY = 41.25I = 12,000A…
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A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
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Q: 2. Assume equations 1 and 2 below were estimated from the data gathered that will represent the…
A: Given information Qdx=65000-11.25Px+15Py-3.75I+7.5A--(1) Qsx=7500+14.25Px-15Pz-3.75C---(2) equation…
Q: = 2000 30P. The commodity is initially The demand function for a commodity is given by Q priced at…
A: Given: Q=2000-30P Price=20 per unit To find: Price elasticity of demand Note: Due to multiple…
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- The demand equation for a product is p = 29 -0.01q Write the revenue as a function of qThe price p (in dollars) and the quantity q sold of a certain product obey the demandequationq − 800 - 20P and 0 < p < 40 (answer iv and v) (i) Express the revenue R as a function of q.(ii) What is the revenue if 20 units are sold?(iii) What quantity q maximizes revenue? What is the maximum revenue?(iv) What price should the company charge to maximize revenue?(v) What price should the company charge to earn at least $3500 in revenue?Can you assist with questions 2 and 3 please. (2) The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q=800-20 and 0 ≤ p ≤ 40 (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iii) What quantity q maximizes revenue? What is the maximum revenue? (iv) What price should the company charge to maximize revenue? (v) What price should the company charge to earn at least $3500 in revenue? (3) You are an accountant for a manufacturer of radios. The demand function for the tablets is 2 p x = 40-4x2 where x is the number of tablets produced in millions. It costs the company $15 to make a tablet. (i). Write an equation for the manufacturer’s profit as a function of the number of tablets produced. (ii). The company currently produces 1 million 2tablets and makes a profit of $21,000,000, but you would like to scale up production a bit. What greater number of tablets could the company produce to…
- the price in p (in dollars) and the quantity in q sold of a certain product obey the equation q=800-20p a express the revenue R as a function of q b. what is the revenue if 20 units are sold ? c. what quantity q maximises revenue ? what is the maximum revenue ? d. what price should the company charge to maximize revenue e. what price should the company charge to earn at least $3500?Suppose a firm has the following demand equation: Q(P) = 100 - 30P + 4A Where Q(P) = quantity demanded at the market price P P = product price (in S) A = advertising spending (in $) Assume for the following questions that initial values of P = $2.00 and A = $1.5,000 No 1--- Suppose the firm dropped the price to $2.60. Would this be beneficial. Explain. (Hint: investigating the link between revenue and price elasticity of demand is the best approach -for this question.) No 2--- Supposed the firm raised the price to $5.00 while increasing its advertising expenditure by $200. Would this be beneficial? REQUIRED 2B: a--- Construct the demand schedules (in a table) of Q, P and A (before and after the increase in advertising spending) -using Excel (detailed steps are optional b----Graph the demand curves (before and after the increasing in advertising spending) -using Excel (details of steps are required. no chatgpt or any ai tool and should be in excel with details of formulaThe price p (in dollars) and the quantity q sold of a certain product obey the demandequationq − 800 - 20P and 0 < p < 40(i) Express the revenue R as a function of q.(ii) What is the revenue if 20 units are sold?(iii) What quantity q maximizes revenue? What is the maximum revenue?
- Maximizing Revenue The price p (in dollars) and the quantity x sold of a certain product obey the demand equation (a) Express the revenue R as a function of x. (b) What is the revenue if 15 units are sold? (c) What quantity x maximizes revenue? What is the maximum revenue? (d) What price should the company charge to maximize revenue? (e) What price should the company charge to earn at least $480 in revenue?The price p (in dollars) and the quantity q sold of a certain product obey the demand Equation : q = 800 - 20p and 0 ≤ p ≤ 40 Express the revenue R as a function of q. What is the revenue if 20 units are sold? What quantity q maximizes revenue? What is the maximum revenue? What price should the company charge to maximize revenue? What price should the company charge to earn at least $3500 in revenue?Assume that a firm accepts the following price_demand relationship as being a realistic representation of its market: d=800-10p where p must be between $20 and$70 a. How many units can the firm sell at the $20 per-unit price? At the $70 per-unit price? b. By how many units does a $1 increase decrease demand? c. Which pricing alternative the business is considering maximizes revenue? Group of answer choices $40 $30 $50
- The room-and-board price of a college is set separately from the tuition portion of the fees. At a meeting of the college's Board of Trustees, the college president suggested a 5% increase in the room-and-board price and a 5% increase in the tuition. The Board of Trustees decided against this. Instead they approved a 2% increase in room-and-board charges, and 7% increase in tuition. What were the trustees assuming about student demand function for room-and-board, as compared to the student demand function for college education? Why? Explain. Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q p = − 800 20 and 0 40 p (i) Express the revenue R as a function of q. (ii) What is the revenue if 20 units are sold? (iii) What quantity q maximizes revenue? What is the maximum revenue? (iv) What price should the company charge to maximize revenue? (v) What price should the company charge to earn at least $3500 in revenue? Please answer with step by step process2. Suppose your marketing research department estimates the demand for your company’s product as Qx= 500-11Px+0.5Y, where Qx is the quantity demanded per week, Px is the price of product X, and Y is the average household income per week in the city. R2=0.87, the standard error of the coefficients of the price (Px) and household weekly income (Y) are 2 and 0.1, respectively. a. Are the coefficients of Px and Y statistically significant? b. Given the initial values Px=$10 and Y=$1000, find price elasticity (Ep) and income elasticity(EY), respectively. Is the demand for the company’s product price and income elastic, or inelastic? c. What action should the manager take to increase the company’s operating revenue? d. Is the company’s product a normal good? How do you know? e. Interpret what R2=0.87 means