5. The price p (in pesos) and demand x for kimchi orders in a month are related by (x – 800)? – 1,530(p + 20) = 0. If the current price of P150 is increasing at a rate of P10 per month, and the number of kimchi orders exceed 1,000, find the rate of change of the demand for kimchi orders.
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- The table below shows two demand schedules for a given style of men’s shoe—that is, how many pairs per month will be demanded at various prices at a men’s clothing store in Seattle called Stromnord. Price D1 Quantity Demanded D2 Quantity Demanded $85 53 13 80 60 15 75 68 18 70 77 22 65 87 27 Suppose that Stromnord has exactly 70 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. Instructions: Enter your answers as whole numbers.a. If demand is D1, what is the lowest price that Stromnord can charge so that it will not run out of this model of shoe in the month of July? What if demand is D2? b. If the price of shoes is set at $85 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? What if the…The following table shows two demand schedules for a given style of men’s shoe—that is, how many pairs per month will be demanded at various prices at a men’s clothing store in Seattle called Stromnord. Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. a. If demand is D1, what is the lowest price that Stromnord can charge so that it will not run out of this model of shoe in the month of July? What if demand is D2? b. If the price of shoes is set at $75 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? What if the price is set at $55 for both months?The table below shows two demand schedules for a given style of men's shoe- that is, how many pairs per month will be demanded at various prices at a men's clothing store in Seattle called Stromnord. price D1 Quantity Demanded D2 Quantity Demanded $ 75 53 13 70 60 15 65 68 18 60 77 22 55 87 27 Suppose that Stromnord has exactly 65 pairs of this style of shoe in inventory at the satrt of the month of July and will not receive any more pairs of this style until at least August 1. Instructions: Enter your answers as whole numbers 1). If demand is D1 what is the lowest price that Stromnord can charge so that it will not run out of this model of shoe in the month of July? What if demand is D2? 2) If the price of shoes is set at $ 75 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stormnord order if it wants to end the month of August with exactly zero pairs of shoes in its inventory? What if the price is set at $ 55…
- Q8- Suppose the quantity demanded weekly of the Super Titan radical tires is related to its unit price by equation p+x^2=241, where p is measured in dollars and x is measured in units of a thousand. How fast is the quantity demanded changing when x= 13, p= 72, and the price/tire is increasing at the rate of $7/ week? Round the answer to the nearest integer. Dropping at the rate of _______ tires/wk1.5 Your firm, Content Friend, is similar to Happy Labourer, a Ghanaian firm that designs and manufactures artifacts and souvenirs. Your research analyst has estimated the demand function for your kente souvenirs is Qd = 33 - 4P If you set the price of a plush kente souvenir at $5, how many will consumers buy? If you increase the price of a plush kente souvenir by $1, how will this change the quantity that your customers buy?The table below shows two demand schedules for a given style of men’s shoes—that is, how many pairs per month will be demanded at various prices at a men’s clothing store in Winnipeg called Stromnord. Price D1QuantityDemanded D2QuantityDemanded $85 53 13 80 60 15 75 68 18 70 77 22 65 87 27 Suppose that Stromnord has exactly 55 pairs of this style of shoe in inventory at the start of the month of July and will not receive any more pairs of this style until at least August 1. a. If demand is D1, what is the lowest price that Stromnord can charge so that it will not run out of this model of shoe in the month of July? What if demand is D2? If demand is D1, the lowest price Stromnord can charge is $ .If demand is D2, the lowest price Stromnord can charge is $ . b. If the price of shoes is set at $85 for both July and August and demand will be D2 in July and D1 in August, how many pairs of shoes should Stromnord order for August if it wants to end the month of August…
- The demand equation for a particular candy bar is px + x + 20p = 3000 where 1000x candy bars are demanded per week when p cents is the price per bar. If the current price of the candy is 49 cents per bar and the price per bar is increasing at the rate of 0.2 cents each week, find the rate of change in the demand.The demand for an economics textbook is given by: Q = 796 - 3p^2 Find the value of Q1 when demand is unit elastic and hence calculate the new price (rounded to two decimal positions) needed to increase Q by 100 units from the Q1 value. Note: Express the new price with two decimal positions (avoid intermediate roundings in the calculation process).Suppose that the demand curve for a product is given by Qdx=100-2Px+aPy where Px = £20, where Py = £20 is the price of another product, and where a is 0. Calculate the demand for good X in this market at the current price level. How much revenue would the firm make? If the firm wishes to increase total revenue, would it need to increase or decrease the current price of good X? Calculate the cross-price point elasticity between goods X and Y at the current price level. Are the goods complements or substitutes?
- The demand for brownie dishes is q(p)=361,201-(p+1)^2 where q is the number of dishes they can sell each month at a price of p cents. Use this function to determine a) the number of dishes they can sell each month if the price is 50 cents, b)the number of dishes they can unload each month if they give them away, and c)the lowest price at which they will be unable to sell any dishesGiven the demand equation which is Qdx = 80 - Px + Py, compute the Qdx if the price of “x” is still 15 pesos but the price of “y” becomes 20 pesos. Please explain. A. 70 kg B. 75 kg C. 80 kg D. 85 kg E. None of the above9. Given the demand equation which is Qdx = 80 - Px + Py, compute the percentage change in Qdx given the change in the price of “y” from 15 pesos to 20 pesos, while the price of “x’” remains at 15 pesos. Please explain. A. -6.25% B. 6.25% C. -5% D. 5% E. None of the above