The weekly sales of Honolulu Red Oranges is given by q = 216 - p^2. Calculate the price elasticity of demand when the price is $ 8 per orange. Is it elastic or inelastic? %3D
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- How do you determine whether demand is inelastic? elastic? Describe what a corporation should do if their demand is inelastic, elastic.Use the price-demand equation below to find E(p), the elasticity of demand. x=f(p)=15,000−175p Question content area bottom Part 1 E(p)=enter your response here (Simplify your answer.)Agnes, a General Manager in XXX Company, estimated a multiplicative demand function of the form: using a cross-section data collected in the company sales on 30th June, 2019. The estimation results are as follows: (SEE IMAGE) Write down the estimated demand equation Interpret the coefficients and R2 value Describe any three managerial decisions that can be applied by the manager from the estimated demand function
- Use the price-demand equation to determine whether demand is elastic, inelastic, or has unit elasticity at the indicated value of p. x=f(p) = 48,000− 40p2, p=19 Question content area bottom Part 1 Is the demand inelastic, elastic, or unit? Choose the correct answer below.consider the price-demand equation given p=(6000-x)/1200 it can be shown that the elasticity of demand is elastic when 2.5<p<5 what is the interpretationUse regression analysis on deseasonalized demand to forecast demand in summer 2013. Forecast for summer 2023 ______
- State which tank is losing water at the greatest rate. Justify your answer mathematically.A mall has a theater that seats 646 people and charges between $6 and $14 per ticket. When tickets to a movie cost $14, the average attendance was 117 people. When ticket prices were lowered to $6, the average attendance was 548 people. Assuming the demand function is linear, how much should a ticket cost in order to maximize revenue? Round your answer to the nearst cent.solve d,e,f please d.) At what price will revenue reach its maximum? What is the maximum revenue? e.) For what prices is the product inelastic? For what prices elastic? f.) If price increases, for what prices would total revenue increase? For what prices decrease? Please show work so I can understand this problem, thank you!!
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