b -Way- physical therapy clinic faces a demand equation of Q = 200-1.5P, where Q is sessions per month and P is the price per session.. The clinic is currently charges $80. What is its sales volume and revenue at this price?
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- Compare Elixir’s profit maximizing price with the marginal cost of producing the profit-maximizing output. At the profit-maximizing price, is the demand for Elixir water inelastic or elasticReid has determined that the daily demand for doughnuts at his favorite bakery is described by the following equation: Qd = 3,300 - 3000P where Qd is the daily quantity demanded in number of doughnuts and P is the price per doughnuts in dollars. a. What is the point price elasticity of demand at a price of $0.70? b. Assume the price is currently $0.70. What is the marginal revenue obtained by selling one additional doughnut? c. The marginal cost of producing an additional doughnut is $0.10. What price should the bakery establish in order to maximize profits?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?
- 14-2. German brothels recently began offering a monthly subscription service for multiple purchasers. If you wished to reduce the incidence of prostitution, would you consider this pricing plan to be a desirable change?George has been selling 7,000 T-shirts per month for $7.00. When he increased the price to $9.00, he sold only 6,000 T-shirts. Which of the following best approximates the price elasticity of demand? -0.6769 -0.6154 -0.3077 -0.5538 Suppose George's marginal cost is $4 per shirt. Before the price change, George's initial price markup over marginal cost was approximately . George's desired markup is . Since George's initial markup, or actual margin, was than his desired margin, raising the price wasDemand for Corn Flakes is: P = 26 - Q. Supply of Kellogg's Corn Flakes is: P = 2 + Q. Now a generic company enters the market, selling generic Corn Flakes for $6. Assume consumers are indifferent between generic and Kellogg's Corn Flakes. How many boxes of Kellogg's (brand) Corn Flakes will sell? Enter as a value.
- A firm practices third-degree price discrimination. With the aid of a graphical illustration, explain the firm’s pricing strategy to maximise profits.Use the following information to calculate the elasticity of demand for primary care visits: initially a clinic visit cost $25 per visit and the clinic saw approximately 60 people per day. The clinic decided to raise price to $35 per visit and the number of people using the clinic fell to 50 people per day. Calculate the price elasticity of demand and indicate whether increasing the price was a good business decision.. UT Sports, a store that sells various types of sports clothing and other sports items, is planning to introduce a new design of World Cup Kits. A consultant has estimated the demand curve to be Q= 8400 – 420 P Where Q is cap sales and P is price. How many KITs could UT sell at $25.2 each? How much would the price have to be to sell 7,560 KITs? Suppose UT were to use the KITs as a promotion. How many KITs could UT give away free? At what price would no KITs be sold? Calculate the point price elasticity of demand at a price of $ 25.2.
- Demand Q(P)= 16,137-489P Cost Function C(Q)= 11,296+17Q Calculate profit maximizing priceEstimates of the marginal cost of Daraprim are $100 for a 100-pill bottle. If Turing Pharmaceuticals charged $75,000 per bottle, what is the elasticity of demand that Turing believed it faced?The Dolan Corporation, a maker of small engines, determines that in 2012 the demand curve for its product is P = 2,000 - 50Q where P is the price (in dollars) of an engine and Q is the number of engines sold per month. a. To sell 20 engines per month, what price would Dolan have to charge? b. If managers set a price of $500, how many engines will Dolan sell per month? c. What is the price elasticity of demand if price equals $500? d. At what price, if any, will the demand for Dolan’s engines be of unitary elasticity? Only typed answer and don't use chat gpt
