Functions of linear demand curve: Qd= a - Bp parameters: a, B > 0 Find the numerical values of a and B given price elesticity of demand when p = 10 is E= 1/4 (p, Qd) = (20, 60) is a point on the demand curve
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Functions of linear
parameters: a, B > 0
Find the numerical values of a and B given
price elesticity of demand when p = 10 is E= 1/4
(p, Qd) = (20, 60) is a point on the demand curve
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- suppose the demand and supply functions for an item are givem by QX = 50-2P and QX= 10+3P a, represent the above function graphically b, find the equilibrium price and quantitySuppose the demand function to be Qd=600-5P when Qd is the quantity demanded and P stands for price. Estimate the price at which demand would be zero.Suppose that the demand for a product is given by the following demand function; Q = 500 - 3P. If you set price at dollar 100 per unit how many unit will you sell?
- Hasbro conducted market research to determine the optimal price to set for their Furby toys. Through many focus groups, they determined they could sell 5,000 furbies at a price of $29.99. However, if they lowered their price to $19.99, they could sell 4,000 more furbies. Find the linear demand equation (price function, y) as a function of the quantity, x, sold. (round to 4 decimal places if necessary)Mattel has conducted studies to determine the best price to set for their Barbie doll figures. Based on data received through these studies, it was calculated that Mattel could sell 3,000 Barbie dolls at a set price of $17.99. However, it was also determined that if the price per doll was reduced to $9.99, they could sell an additional 2,000 Barbie dolls. Find the linear demand equation (price function, y) as a function of the quantity, x, sold.The demand function for an item is given by d(x) = 100/ 0.01x 2 + 1 (20 ≤ x ≤ 50) where d(x) (measured in units of a thousand) is the quantity demanded per weak and x is the unit price in dollars. (a) Find the rate of change in demand with respect to price. (b) How fast is the demand changing at price equal to 30 (x = 30)?
- Assume that one week sneakers sold at $150.00 and sell 80 units., next week they price them at $140 and sell 100 units. a. Assuming demand is approximately linear, determine the demand function b. Given: 1.7 p +42.i. Determine: Ep and Eq c. Draw both the demand and supply curves.Assume that the demand function is equal to: QD = 5000 - 1000P Where the price range is P1.00 to P5.00, derive the demand schedule economicsA local store will buy 20 doorbell cameras from a supplier if the price is $77 each. If the price drops to $27 , then the store will buy 30 . The supplier is willing to sell 66 doorbell cameras for the price of $50.50 each, but only 49 at a price of $42.00 each. Find the supply and demand functions and the market equilibrium point. Assume both the supply and demand are linear. Use integers, fractions or decimals to describe the slopes and p-intercepts. A) What is the equation for the demand? p= B) What is the equation for the supply? p= c) What is the market equilibrium point?Explain in details
- The demand function for a certain product is given by p = 500 + 1000/q+1 where p is the price and q is the number of units demanded. Find the average price as demand ranges from 46 to 96 units. (Round your answer to the nearest cent.)Which factor that influences change in buying plan, other than price of good? Find out market equilibrium price and quantity from the demand function: QD = 15-4p and supply function: QS= - 1+ 6p. Show it graphically.Assume a linear demand function of the form : Qd = 120- 12P, and a linear supply curve of the form: Qs = 32+10 P a. Calculate the quantities demanded and supplied for prices from $1 − $10