Explain in your own words the relationship between price elasticity of demand and total revenue. Give an example.

Q: period actual forecast 1 155 191 155 168 165.8 182 166.46 192 What is the predicted demand for time…

A: Given info : Smoothing constant : α = 0.3 Period Actual Forecast 1 155   2 191 155 3 168…

Q: sing the data in test yourself question 1, if the price of X to consumers is $9, and the government…

A:

Q: Table Q3: Interest rate offered by a private bank of over 6 years time 2020 5.15 2019 2016 5.65 2017…

A: Given: Year (x) Interest rate (y) 2015 4.51 2016 5.65 2017 6.50 2018 6.35 2019 4.85…

Q: Problem: If the price of commodity doubles in a period of 4 years, what is the average percentage…

A:

Q: Coal Projections The rate of spending on coal (in millions of dollars per year) is projected

A: 62.)

Q: Find the rate of change of supply price with respect to the number of units supplied.

A:

Q: What does it mean if two quantities vary directly? Explain.

A:

Q: Rick Miller has just opened a new bakery in Frisco, Colorado, called Morning Fresh. In performing an…

A:

Q: Explain a general mathematical modeling to growth of Human population. And what will be the Iraq…

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Q: Please answer Newsboy questions with Excel,for upvot formulas step by step and clearly. с E G…

A: q p(q) 65 0.07 66 0.09 67 0.13 68 0.15 69 0.18 70 0.16 71 0.12 72 0.06 73 0.04…

Q: The average ticket price for a concert at the opera house was $50. The average attendance was 3500.…

A: In order to minimise or maximise a quantity, derivative of that function is calculated and equated…

Q: An office building worth $4 million when it was completed in 2015 is being depreciated linearly over…

A:

Q: 1600 2. The demand function for your product is = 15+5x If price at equilibrium is $40, what is the…

A: we have given demand function P=160015+5xEquilibrium point…

Q: What is the Equilibrium Price (Rs) and quantity (units) demanded for X on the market? Use a diagram…

A: Here is the diagram of supply and demand:

Q: Describe the energy production change in 1995 and in 2005.

A: Percent change is calculate using the formula = Final - InitialInitial×100%   Now, Change in Coal…

Q: In 1936, the cost of a Hershey's chocolate bar was 5 cents. In 1980, the cost of a Hershey's…

A: Given  A price change in the form of table.we need to determine the change in price  compared to the…

Q: The margin of safety sales volume times the contribution margin ratio equals operating income. True…

A:

Q: Calculate the consumers Surplos at the indicated unit price p for the demand equation P=120 tq; P -…

A: Let's Solve,

Q: How do rates help you describe real-life problems

A: First understand definition of rate  * Rate is used for the comparison of two measurements of…

Q: As Sales Manager for Montevideo Productions, Inc., you are planning to review the prices you charge…

A: Assume that p is the price and q is the number of contracts.Then, write the given information in the…

Q: Consider a rectangle in the xy-plane, with corners at (0, 0), (a, 0), (0, b), and (a, b). If (a, b)…

A: Given A rectangle in the xy-plane, with corners at (0, 0), (a, 0), (0, b), and (a, b) and (a, b)…

Q: You have to examine the relationship between the age and price for used cars sold in the last year…

A: We use R to do the derive a regression line for the given data.

Q: How are the cost, revenue, and profit functions related?

A: Cost is defined as the price of the commodity is being purchased by the firm. let take an example if…

Q: Find the daily revenue function given two equations

A:

Q: A model that describes the average cost of tuition and fees at private U.S. colleges for the school…

A: A model that describes the average cost of tuition and fees at private U.S. colleges for the school…

Q: An item has a new selling price of P200.00 and markdown of P30.00. Find its original selling price,…

A: Explained below

Q: Assume that the situation can be expressed as a linear cost function. Find the cost function. Fixed…

A:

Q: How much of the variation in prices are explained by these characteristics?

A: The variability in the response variable that is explained by the explanatory variables is…

Q: Hardware and software for computers are complements.   a) Discuss the effects on the equilibrium…

A:

Q: Find the point of diminishing returns for the revenue function

A: The objective here is to find the point of diminishing returns for the given revenue function:…

Q: As production level increases, the average cost for a company to produce each unit of its product…

A: It is known that the average cost of the company is the ratio of the cost of every product and…

Q: How do you determine whether demand is inelastic?  elastic?  Describe what a corporation should do…

A: Let q = f (p), where q is the demand at a price p. Then, the elasticity of demand E is,

Q: A vendor charges $43 for a jacket. What is the demand function?

A: The vendor charges the jacket at $43.

Q: Describe elasticity of demand in your own words.

A: Elasticity of Demand A change in the price of a commodity affects its demand. We can find the…

Q: Is the rate of change in cost constant with respect to the number of pencils bought? Explain.

A: Yes, the rate of change of cost is constant with the rate of change of pencil.

Q: How much variation in the level of sales can be accounted for by the level of costs?

A: Coefficient of determination is denoted by r2 and it explains how much % of variation in the…

Q: The table below contains price-demand and total cost data for the production of treadmills, where p…

A: Given information: The data represents the values of the variables x = annual demand of treadmills,…

Q: . If you were to graph two quadratic functions on the same xy-plane, how many intersection points…

A: Given: Two quadratic equation. The given demand function is fx=0.02x-1002 and the given supply…

Q: Explain (give an example for each) cyclical, frictional, and structural unemployment?

A: Cyclical unemployment arise due to the economic up and downs. For example; the unemployment during…

Q: When a company offers a new product or service, they estimate how much of that product or service…

A:

Q: Anna, Elsa, and Olaf are trying to decide how many hours per week to run the heater, which costs $30…

A:

Q: ) You are provided with a supply curve and a demand curve, where p is the unit price for a items.…

A:

Q: If demand curve is P = 500 – 4Q. What is the value of marginal revenue when Q = 70? А. -60 В. 340 C.…

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Q: Which description best explains the relationship between the cost of produce and the number of units…

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Q: Assume: the relationship between price and demand is linear • the cost function in linear Use your…

A: To calculate the marginal profit when the selling of toasters is 265 per week.

Q: An item has a new selling price of P200.00 and markdown of P30.00. Find its original selling price…

A:

Q: Assume that the situation can be expressed as a linear cost function. Find the cost function.…

A: Given Marginal cost (m)=$120 700 Items cost $96,500

Q: Give an example of a nominal variable for people in recovery for substance abuse

A: Nominal variable: This type of variable are basically qualitative variables taking categories with…

Q: IOR Kavertising Ás Sales Manager for Montevideo Productions, Inc., you are planning to review the…

A: Since there are multiple sub parts the first three sub parts is answered.Kindly repost with the…

Q: how do we estimate   direct and indirect costs .  explain in detail.

A: DIRECT COST:-   Direct cost is the expenses that a company can easily connect to a specific "cost…