In the 1930s a prominent economist devised the following demand function for corn: 6,530,000 p = q1.3 where q is the number of bushels of corn that could be sold at p dollars per bushel in one year. Assume that at least 8,000 bushels of corn per year must be sold. (a) How much should farmers charge per bushel of corn to maximize annual revenue? HINT [See Example 3, and don't neglect endpoints.] (Round to the nearest cent.) p = $ (b) How much corn can farmers sell per year at that price? bushels per year (c) What will be the farmers' resulting revenue? (Round to the nearest cent.) per year

Q: Use the demand equation q= 84-0.3p" to find the elasticity of demand function. %3D Answer:

A:

Q: When a wholesaler sold a product at $40 per unit, sales were 330 units per week. After a price…

A:

Q: Consider the price-demand equation given by p=6,000−x/ 1,200. For which value of p is the elasticity…

A: P = (6,000 - X) / 1,200Hence, X = 6,000 - 1,200PdX / dP = -1,200

Q: The monthly demand function for x units of a product sold by a monopoly is  p = 5300 −  1 2x2…

A:

Q: Find the daily consumer surplus if the demand equation is given by p=−0.3·q+120, and the business…

A:

Q: The demand for wooden chairs can be modeled as D(p) = -0.01p + 4.35 million chairs where p is the…

A:

Q: A commodity has a demand function modeled byp = 108 - 0.5x and a total cost function modeled by C =…

A: Consider the demand function p=108-0.5x and the total cost function C=30x+31.75. Here, the objective…

Q: Given the demand function D(p) = √325 - 2p, Find the Elasticity of Demand at a price of $17

A: We can find elasticity of demand .

Q: Suppose that the demand function for a product is given by the formulap = 2000 – 5q dollars, where q…

A: Here demand function is given need to find maximize revenue and at what value

Q: For the demand function,q=Sp-1/2 -1,find the increase in consumer surplus that would arise if the…

A: Consider the given function, q=5p-12-1 The increase in consumer surplus is defined as,…

Q: In May 1991, Car and Driver described a Jaguar that sold for $980,000. At that price only 50 have…

A:

Q: The demand for a particular item is given by the function D(a) 1, 300- 3x2 Find the consumer's…

A:

Q: If quantity demand as a function of price is defined as Q = -2.5p + 150, what is the point price…

A: Since You have posted multiple questions, I answered the first one. Please Repost for other.

Q: 19. The demand function for a commodity is given by p = 2000 – 0.1x – 0.01x² Find the consumer…

A:

Q: A commodity has a demand function modeled by p=114-0.5x and a total cost function modeled by…

A: Profit is calculated by subtracting the cost function from the revenue function, both expressed in…

Q: Find the consumer surplus for the demand function p

A:

Q: Suppose a gas station has the linear demand function D(p) = 1200 – 200p. According to this function,…

A: Consider the given function:

Q: Suppose the demand function for red sprockets is given by p(q)=−3q+1400 where p(q) is in dollars and…

A: “Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: 12) Find the elasticity of demand when the price is 20 for the demand function 10x + 2p = 100

A: 12. The given demand function is 10x + 2p = 100 To find demand for price 20   13. Given y = 5x2 To…

Q: If the revenue function for a particular commodity is R(p) = -55p2 + 68p, what is the (linear)…

A:

Q: The demand function for a product is  p = 112 − x2.  If the equilibrium price is $12 per unit, what…

A: Consumer's surplus= $1,152

Q: You are the Economic Consultant for Zuku Farms Ghana Limited. Zuku produces cowpea in a community…

A:

Q: 1. Suppose a recreational inverse demand function is represented by C = 1300-250Q + 100EQ, where Q…

A:

Q: If the revenue function for a particular commodity is R(p) = −5 q(p) = -56p² + 62p, what is the…

A:

Q: The demand function for a product is modeled by p= 56e-0.000012q where p is the price per unit (in…

A: We have p=56e−0.000012qRevenue function Rq=qpRq=56qe−0.000012qDifferentiate w.r.t…

Q: Given the demand function. P=16?-0.02Q • Determine the quantity and price at which total revenue…

A: Given demand Function P= 16-0.02Q To maximized the revenue  Revenue function = Quantity * Demand…

Q: For a manufacturer's product, the demand function is p = 240 + 57q - q² At what level of output…

A: Let the demand function is p=240+57q-q2   To determine: The value of q at which the revenue function…

Q: The monthly demand function for x units of a product sold by a monopoly is p = 5600 – dollars, and…

A: Given,          The monthly demand function for x units of a product sold by a monopoly is…

Q: A manufacturer can produce at most 130 units of a certain product each year. The demand equation for…

A:

Q: the revenue function for a particular commodity is  R(p) = −50p2 + 68p,  what is the (linear)…

A: We have to find

Q: The demand function for a product is modeled by p = 54e −0.00002x, where p is the price per unit (in…

A: Given that the demand function is p=54e-0.00002x where p is the price per unit and x is number of…

Q: 6. Given the demand equation, P = 100-Q, calculate the price elasticity of demand when P=3 $(a+ß).

A:

Q: (a) Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size…

A: Hey, since there are multiple subparts posted, we will answer first 3 questions. If you want any…

Q: A commodity has a demand function modeled by  p = 25 − 0.5x, and a total cost function modeled by C…

A: The demand function is given by p = 25-0.5x…

Q: Consider the price-demand equation given by 6,000 – x 1, 200 For which value of p is the elasticity…

A:

Q: When a wholesaler sold a product at $40 per unit, sales were 270 units per week. After a price…

A:

Q: Consider the price-demand equation given by p=8/5 − 1/2500x. For which value of p is the elasticity…

A: As a first step, let's express demand "x" as a function of price "p"p=8/5 − 1/2500x.Hence, 1 / 2500x…

Q: A retailer has been selling 1200 tablet computers a week at $350 each. The marketing department…

A:

Q: Suppose that a price p and demand x are related through the price-demand equation x+400p=8,000.…

A: To work out the formula for the elasticity of demand at price p

Q: 2. Sales figures show a company that priced pens at $1 each, sold 1,960 pens per week. When they…

A:

Q: for a particular commodity, the demand function is q= 1/4(400-p^3). fine e when p=6

A: To find e when p=6

Q: When Green Eggs and Ham are sold for $4.00 per apple at Whoville, approximately 2500 servings are…

A: Suppose P(x) =m·x+c be the linear demand function. Also, P(x) represents price per unit when x…

Q: Given the demand function D(p) = /200 – 3p, | Find the Elasticity of Demand at a price of $50 At…

A: Given that: Demand function, D(p)=200-3p

Q: A manufacturer has been selling 1000 flat-screen TVs aweek at $450 each. A market survey indicates…

A:

Q: A commodity has a demand function modeled by p = 25 − 0.5x, and a total cost function modeled by C…

A:

Q: Find the price that will maximize profit for the demand and cost functions, where p is the price, x…

A: To find the price that maximizes the profit.

Q: firm which produces a single product is interested in determining the functions that expresses…

A:

Q: As the new owner of a supermarket, you have inherited a large inventory of unsold imported Limburger…

A:

Q: As the new owner of a supermarket, you have inherited a large inventory of unsold imported Limburger…

A: It is an elasticity question. Read the problem carefully and try to frame the equations accordingly.