Determine whether there is a specific market price above which demand is zero or price per unit is unbounded. Write the maximum possible market price, using dollars per unit as the units of measure for input. (If the price per unit is unbounded, enter UNBOUNDED.) D(p) 3.6p-0.3 units dollars per unit
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- C&A Fast Food has four activities in serving a customer: greet customer, take order, process order, and deliver order. Each activity is staffed by one employee (for a total of four employees). The processing time for each activity is given as follows: Greet customer Take order Process order Deliver order Activity Processing time per customer 2 seconds 30 seconds 60 seconds 5 seconds Assume demand is unlimited. If one additional employee is added to the bottleneck activity, what will be the percentage change in process capacity?The quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $140. The quantity demanded each month is 1000 when the unit price is $110. The suppliers will market 750 espresso makers when the unit price is $76 or higher. At a unit price of $96, they are willing to market 2250 units. Both the supply and demand equations are known to be linear. (a) Find the demand equation. P = (b) Find the supply equation. p= (c) Find the equilibrium quantity and the equilibrium price. units $The quantity demanded x each month of Russo Espresso Makers is 250 when the unit price p is $150; the quantity demanded each month is 1000 when the unit price is $120. The suppliers will market 750 espresso makers if the unit price is $50. At a unit price of $80, they are willing to market 3000 units. Both the demand and supply equations are known to be linear. (a) Find the demand equation.p = (b) Find the supply equation.p = (c) Find the equilibrium quantity and the equilibrium price. equilibrium quantity units equilibrium price $
- Steve and Michelle are farmers who sell their surplus manure to other local farmers. Manure is sold by the cubic yard. (Dirt, soil, mulch etc. are often sold by this measurement.) Steve and Michelle have no costs of production. (Buyers come and pick up their manure themselves.) Market demand is given as P = 96 - 4Q, MR = 96 - 8Q, and MC = ATC = 0. Complete parts a through d below. ..... a) If Steve and Michelle agree to split the monopoly outcome, how much would each farmer produce and what would be the individual profits? Each farmer would produce 6 cubic yard(s). The profit for each farmer would be $ 288 b) Suppose Steve decides to cheat on the agreement and produces 7 cubic yards. What is Steve's profit now? What is Michelle's profit now? Steve's profit is now $ Michelle's profit is now $ c) Suppose Michelle considers retaliation and thinks about producing 7 cubic yards. What would her and Steve's profits be in this case? Should Michelle retaliate? In this case, Michelle's profit…nd 35. AVERAGE SUPPLY A manufacturer supplies S(p) = 0.5p² + 3p + 7 hundred units of a Sie per certain commodity to the market when the price is p dollars per unit. Find the average supply as the price varies from p = $2 to p = $5. 6 43. EFor a certain commodity the demand equation is given by Demand = −30p + 1000. At a price of $5, 600 units of this commodity are supplied. (a) If the supply equation is linear and the market price is $10, find the supply equation. (b)If the price of this commodity increases by $3 per unit, what effect will this have on the supply and demand of the commodity?
- The demand and supply functions for a particular commodity are D(x) = 80e-0.001x and S(x)= 30e0.001r , where x is the number of units of the product, D(x) is the price that results in a consumer demand of x units and S(x) is the price that results in a producer supply of x units. a. Find the equilibrium point using your calculator and identify the equilibrium units and price. Give your answers to the nearest whole unit and nearest dollar. The value of x at equilibrium is units. The value of p at equilibrium is b. Determine the consumers' surplus.It is known that the quantity demanded of a certain make of portable hair dryer is x hundred units/week and the corresponding wholesale unit price is p = 289 − 5x dollars. Determine the consumers' surplus if the market price is set at $13/unit. (Round your answer to two decimal places.) $The demand function for a manufacturer's product is p= f(q) = – 0.16q + 432, where p is the price (in dollars) per unit when q units are demanded (per day). Find the level of production that maximizes the manufacturer's total revenue and determine this revenue. What quantity will maximize the revenue? q = units
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