When the price, p, charged for a boat tour was $30, the average number of passengers per week, N, was 600. When the price was reduced to $15, the average number of passengers per week increased to 750. Find a formula for the demand curve, assuming that it is linear. The demand curve is N(p) = 10 p+ 900 %3D

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A: Consider, Revenue in terms of prints produced 'x'   R(x) = x(600 - 5(x-40)) R(x) = 600x - 5x(x-40)…

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Q: When the price, p, charged for a boat tour was $30, she number of passengers per week, N, was 600.…

A: To find out the demand curve N(p).

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Q: Find the consumers' surplus at a price level of p = $150 for the price-demand equation below. p=…

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A: frame the problem on a simple graph . Then use the slope point formula to solve the problem.

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A: p=400-0.02xat p =130130=400-0.02x0.02x=270x=2700.02=13500x=13500TE=px =130(13500)TE=1755000

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Q: Find the equilibrium point for the demand and supply functions D(p)= 108 – 11p and S(p)= 70+8p.

A: Dp=108-11p & Sp=70+8p

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Q: An artist is planning to sell signed prints of her latest work. If 50 prints are offered for sale,…

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