A firm produces a steel bar. When the price of the steel bar is $ 30,000, the quantity demanded is 8 metric tons, a 100% change in the price would change the quantity demanded by 25%. At what price should the firm sell its product to maximize its total revenue

Q: Your company receives 40 excess copies of a book. You plan to sell these books in two markets:…

A: It is given that,Total supply of books = 40, that is, Quantity of books at ebay (Qe) + Quantity of…

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Q: If a firm finds that it can sell $32,000 worth of a product when its price is $8 per unit and…

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A: First of all, law of demand suggests that if price is increased then quantity demanded of this…

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A: Total revenue = Price x Quantity = PxQ

Q: 28- Which of the following factors does NOT influence the price elasticity of demand of a prod the…

A: Price elasticity of the demand is considered as that economic activity or measure with basically…

Q: A firm will earn normal profits when price:

A: ANSWER   A firm will earn normal profits when price IS

Q: The government is considering an increase in the tax on gasoline. They know that the price…

A: Elasticity of demand: It can be defined as a measurement of the change in the quantity demanded of a…

Q: State the processes performed when demand is predicted to be greater than supply.

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A: Answer - Given in the question- A Answer - Need to find- dx/dp x = 80*(p+25)^1/2-350

Q: f D(p) = 10400 - 40p and S(p) = 400 + 60p are demand and supply functions, respectively, find the…

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Q: the amount of cereal consumed by a member in a hotel varies directly as their number if 900k of…

A: Here, it is given that the consumption of cereal by 50 members is 900kg. To find: total number of…

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A:

Q: The price in pesos for a certain product is p(x) = 900 - 20x - x2 when x units is demanded. Also…

A: Given :  Demand function : P(x) = 900-20x-x2 Supply function : P(x) = x2+10x

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A: Given in the question are two coordinates of (x,p) are (1600,320) and (5600,370) a) Equation is…

Q: Using the formula Qd = 300 - 40p, find the quantity demanded when the price is $2.50?

A: The quantity demanded is calculated by substituting the value of price in the demand function.

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A: Production refers to the changing of inputs into output. Cost refers to the amount that is incurred…

Q: The demand for your product X has been estimated to be QX = 7, 880 − 4PX − 2PY + PZ − 0.1M where Y…

A: QX = 7, 880 − 4PX − 2PY + PZ − 0.1M  PX = 10, PY = 15, PZ = 50, M = 40, 000

Q: Consumers' Surplus The demand function for a certain make of replacement cartridges for a water…

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Q: Consumers' Surplus It is known that the quantity demanded of a certain make of portable hair dryer…

A: Consumer surplus = ∫ D(q) dq - peqe  P = √ 361 - 7X  At p = 9 X = 7 So peqe = 9(7) = 63

Q: 100p 0.7p + 3 S(p) = Find the supply and the instantaneous rate of change of the supply with respect…

A:

Q: The price p (in dollars) and the quantity q sold of a certain product obey the demand equation q =…

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A: Quantity (x) can be calculated as follows. Quantity is 31.

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A: Demand shows the quantity of good and service that a consumer is willing to buy at the given price…

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Q: If the price is given as 20 per unit and the given quantity is $150 billion Find the Total revenue

A:

Q: The government decides to pass a law that requires all automobiles to have side and rear airbags.…

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Q: What are the factors that will affect the total revenue?justify your answer

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Q: All of the following are substitutes except a. clothing and motor vehicles. b. traveling by…

A: According to the Bartleby guideline, we can solve only one question per session, and above you wrote…

Q: Using the formula Qd = 300 - 40p, find the quantity demanded when the price is $2.50.

A: Here we calculate the quantity demand which are as follow-

Q: A decrease in the cost of the flour used to bake bread is most likely to

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Q: Problem 10. PREVIEW ONLY -- ANSWERS NOT RECORDED Worldwide quarterly sales of a brand of cell phones…

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Q: Make a supply and demand diagram where the drop of a price of a replacement negative growth in the…

A: According to the law of supply when price increases then there will be more supply of the products…