The profit function of a good is given by the following: n = -5Q2 + 631Q – 3255 where P is the price of the item and Q is the quantity. Determine the demand function of the good if the variable costs are 14 per item.
Q: Georgia Ceramic Company has an automatic glaze sprayer that has been used for the past 10 years. The…
A: Given: Interest rate (i)=12% Number of years(n)= 10
Q: Question 27 . If Maxine and Daisy both specialized in the product in which they have a comparative…
A: Given : Maxine & Daisy are bakers who bake tarts and pies. They have similar level of resources…
Q: Consider the following regression estimate: In Qd = 2.1 – 0.7 ln P + 0.07Urban Log quantity demanded…
A: Quantity demand is a function of price and status of urban or rural.
Q: Buyers of a used product value good ones at $150 and bad ones at $95, while sellers value good ones…
A: Consumer surplus: - it is the difference between a consumer’s willingness to pay and the price he…
Q: How is the Philippines central to the history of economic globalization? What is the role of the…
A: The BIS (2017a) defines globalization as the flow of goods and services, people, capital, and…
Q: It was reported in the New York Times that the China's State Council has encouraged more spending to…
A: The curve that depicts various combinations of goods and services that could be produced in an…
Q: A monopoly is considering selling several units of a homogeneous product as a single package.…
A:
Q: Poverty is measured by the number of people who fall below a certain level of income—called the…
A: In an economy, the term poverty is used to explains the income inequality as some of the people are…
Q: The long-run AS curve is given as Y =100. a) Derive the SRAS curve. (Note: The value of EP is not…
A: PLEASE FIND THE ANSWER BELOW. SRAS CURVE: The Short-Run Aggregate Supply Curve (SRAS), shows that…
Q: 0592 92 ) An electronic manufacturing firm has the profit function P(x) ++x2 -20 x 92x 20 20 20,and…
A: P(x)=-59220x3+9220x2-20x92x+20 =29.6x3+4.6x2-1,840x+20a.AC=29.6x3+4.6x2-1,840x+20x…
Q: Question 6 The market demand curve Group of answer choices represents the sum of the prices all the…
A: A graphic representation of the connection between item cost and the amount of the item requested.
Q: In conducting an EVA analysis for year 2 for a newly introduced product line, Bethune, Inc., which…
A: Given the gross income = $700000 Capital required for new product = $540000
Q: When Russia invaded Ukraine no one knew how long the ensuing conflict would last, or how deep the…
A: In light of the War between Russia and Ukraine, it can be said that this conflict has a…
Q: Please refer to the description of a tax on a market, represented by the graphic What is the price…
A: Market equilibrium is that condition where market Demand is equal to market supply. After imposing…
Q: Participation Question 7: • A consumer derives utility from consuming integer units of Good X and…
A: as total utility of goods are given to us we have to find marginal utility of 2 unit of good X
Q: Suppose the following: Bond A Bond B Face Value $100 $100 Price 98 105 Coupon Rate 7% 12% Which bond…
A: Answer;
Q: Perfect Picture Cameras: Perfect Picture Cameras is a national camera company. It competes with 2-3…
A: The oligopoly is the market structure with few sellers and they produce either homogenous or…
Q: external scale economies leads to prices that are lower than the prices in only one of the trading…
A: The answer is as follows:-
Q: 20) Suppose that the production function is y = k0.25[that is, output per worker is equal to the…
A: As it is given to us that y=k0.25 S=0.06 n=0.02
Q: Assume there is a recessionary gap of $200 billion, and that the government has decided to engage in…
A: Answer; Multiplier = 1/(1 - MPC) = 1/(1-0.5) = 2
Q: In the automobile insurance market, adverse selection occurs when Group of answer choices A) drivers…
A: In the insurance market, there is a high possibility of market failure due to uneven information…
Q: Suppose in the country of Miltonia, Ricardian equivalence is 100% true. A- If Miltonian tax rates…
A: One of the most commonly used theories of Professor David Ricardo is the concept of comparative…
Q: Refer to Daisy's PPF Given Daisy's PPF, the following production combo, 12 pies and 12 tarts is…
A: Production possibilities frontier shows combinations of two goods that can be produced with the…
Q: 3. Apoorva spends her entire income on (*good") goods X and Y, which she views as neither perfect…
A: Disclaimer: Multiple questions => Answer to the first question provided.
Q: Since she has to borrow and pay interest if she wants to consume in the first period, she can…
A: It is known that: Julia has to borrow to consume in period 1
Q: WHAT IS THE RELEVANT ECONOMIC CONCEPT WHICH CAN BE MATCHED TO THE DISCRIPTION
A: The questions asks for the curve showing combinations of two goods that provide a consumer with a…
Q: 8. Removing an import quota on sugar could possibly hurt US welfare iff a) the US price of sugar…
A: The removal of an import quota on sugar could possibly hurt US welfare iff the volume of US sugar…
Q: Which of the following is not an assumption of a competitive labor market? numerous buyers and…
A: The answer is - interchangeable workers
Q: a) Consumers Consider N consumers. Consumer i has the utility function: Ui = xi - k*(E2/2)…
A: The marginal rate of substitution (MRS) basically refers to the amount of one product that a…
Q: Income per person exceeds $25,000 in many countries but it is below $1,000 per person in many other…
A: The Solow Growth Model is basically refers to an exogenous economic growth model that looks at how…
Q: Inputs of a Pa MP Inputs of b 25 40 20 36 15 32 4. 10 24 20 6. 16 The table gives marginal product…
A: We have price of inputs of a is $5 and b is $8
Q: A company located in the US is selling a product in Japan for a price of exactly 7,175.5 Yen. The…
A: Price is yen = 7,175.5 yen Cost is = 56.5 $
Q: Problem 1. Country A has the following Philips Curve: я- Еп- 0.75 (и-0.05) a) What is the natural…
A: Answer - "Thank you for submitting the question .But, we are authorized to solve only 3 sub parts.…
Q: 2. Explain the rationale for government intervention in the economy in connection with economic…
A: Merit goods are the ones whose benefits have been estimated lower than what it really is. (Eg.…
Q: Calculate a Goal Value Standard using the following information: A x B x (C x D) = Item Value…
A: The variable cost is the cost that varies with the level of output produced. The cost does not…
Q: The inverse labour demand curve of a monopsonist employer is W= 37,500 – 80L, where W is the annual…
A: Monopsonist employ the labor where ME = labor demand
Q: Consider the following production function: Q (K.L)= 5K2/3Į 1/3 What is the value of its elasticity…
A:
Q: An annuity offers a payment of $5000 at the beginning of every three months for twenty years.…
A: An interest rate refers to the amount charged by a lender to a borrower for any form of debt. It is…
Q: How does a change in price affect the demand and supply of a product?
A: Price of the good refers to the number of units of money which the consumers have to pay to get the…
Q: If you received a price increase request from a strategic supplier of goods, for which there is…
A: Following is the given information: *Request to increase in price = 4.5% *Abnormal trading…
Q: Left Right Up 1, 3 3, 1 Down 2, 2 4, 4 a. Find the Nash equilibrium or equilibria b. Which player,…
A: Nash Equilibria gives the best possible outcome given the strategy of another player.
Q: Refer to the figure below to answer the questions that follow. Surplus Deic GOP, Rea domestie et GOP…
A: In an economy, there are different ways to analyze the employment status based on different types of…
Q: c. Suppose, as in part b, that there are 100 programmers inelastically supplying labor to the…
A: When one more unit of labor (in most situations, one additional employee) is added to a company's…
Q: Consider a market for used bicycles, with high and low quality. Sellers value high quality at $260…
A: * SOLUTION :-
Q: Which good would you expect to have more elastic demand for each of the following pairs of goods,…
A: Elasticity of demand helps producers in estimating the response of consumers to any change in the…
Q: The goods included in the CPI change as spending habits change. Select one: O True False
A: Consumer Price Index is the measure of change in average price of the goods and services purchased…
Q: Think back to Econ 201, oligopolies, and game theory. Use the figure below to answer the following…
A: Dominant strategy: its a strategy that gives maximum payoff to a player irrespective of what other…
Q: Let: U1 = x1 + z^.5, Y1 = x1 + pz1 U2 = x2 - .5z^.5, Y2 = x2 + pz2 z = z1 + z2, Y is the income of…
A:
Q: What makes climate change an economic problem? And if it is, how should policy deal with it? Your…
A: Human activities influence the climate system and anthropogenic discharge of green-house gas is the…
Q: What would be the primary advantages of eliminating the role of the federal government in the…
A: The answer is as follows:-
Step by step
Solved in 2 steps
- The price elasticity of demand for air travel differs radically from first-class (1.3) to unrestricted coach (1.4) to restricted discount coach (1.9). What do these elasticities mean for optimal prices (fares) on a cross-country trip with incremental variable costs (marginal costs) equal to $120?A manufacturer of upholstery can sell 2121 yards of fabric at a price of $3.11$3.11 per yard. If the price is $1.85$1.85, she can sell 3535 yards. The total cost of manufacturing x yards of fabric is C(x)=0.6x+36C(x)=0.6x+36 dollars. Step 1 of 3 : Assuming the demand function is linear, find an equation for D(x)D(x). Do not round your answer.The demand function for a good is given by the equation P= 50 – 2Q, while total cost is given by TC = 160 + 2Q Write down the equation for the total revenue. Write down the equation for the profit. Find the value of Q when the firm breaks even.
- 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.)Until recently, hamburgers at the city sports arena cost $2.50 each. The food concessionaire sold an average of 1,375 hamburgers on game night. When the price was raised to $3.00, hamburger sales dropped off to an average of 1,250 per night. The concessionaire's fixed costs were $1,133.60 per night and the variable cost was $2.60 per hamburger. Answer the following questions (A) through (F). (A) Assume that the relationship between price p and demand x is linear. Express p as a function of x and find the domain of this function. p=nothing The domain of p is nothing. (Type a compound inequality.) (B) Find the revenue function in terms of x and state its domain. R(x)=nothing The domain of R(x) is nothing. (Type a compound inequality.) (C) Assume that the cost function is linear. Express the cost function in terms of x. C(x)=nothing (D) Graph the cost function and the revenue function in the same coordinate system. Choose the correct graph below. Find the…The demand function for small high-definition televisions is given by p = 9,000 − 55x, where p is the price, in dollars, that x televisions can be sold. The cost function (in dollars) to produce televisions is C = 3,500x + 2,000. (Simplify your answers completely.) (a)Find the revenue function, R. R = (b)Find the profit function, P. P = (c)Find how many televisions should be sold to maximize profit. televisions (d)What is the maximum profit (in dollars)? $
- 1.The price p in dollars of a certain commodity and the quantity x sold obey the demand equation p= -1/5x + 200 where 0<=x <=1000. Suppose that the cost C in dollars of producing x units is C= the square root of x divided by 10 + 400. Assuming that all items produced are sold, find the cost of c as a function of the price p.A firm manufactures two goods labeled 1 and 2. It sells Qi items of good i for a fixed price per unit of pi. The total cost of producing good i is ciQi2.Explain briefly why the profit function is given byπ(Q1, Q2) = p1Q1 + p2Q2 − c1Q12 − c2Q22Find the values of Q1 and Q2 which maximize π and verify that the second-order conditions for a maximum are satisfied. Find an expression for the maximum profit.Find the demand function for the marginal function below. Recall that if no items are sold, the revenue is $0. R'(x) = 0.03x2-0.08x + 196
- The demand function for specialty steel products is given, where p is in dollars and q is the number of units. p = 180 3 125 − qThe demand function for a particular brand of LCD TV is given by p = 1480 − 20x where p is the price per unit in dollars when x television sets are sold. (a) Find the revenue function. R(x) = (b) Determine the number of sets that must be sold in order to maximize the revenue.sets(c) What is the maximum revenue? $ (d) What is the price per unit when the revenue is maximized?$ per unitA toy manufacturing from has demand for the product is given by the demand function Q= 500 - 3p. Where P is the price in dollars and q is the quantity sold per year. What quantity will the firm sell at price $100.