If the demand of a company can be expressed as P = 750 - 2 Q^ 1.5, where Q is the quantity and P is the price in kroner, what price then gives maximum income? (Answers in whole kroner.)
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- The demand function for a certain product is given by 1000 P- 500 + 9+1. where p is the price and q is the number of units demanded. Using the average value function given in the text to find the average price as demand ranges from 46 to 96 units, what are the values of a and b? 46 %3B b-96 Calculate 1/50 Find the average price as demand ranges from 46 to 96 units. (Round your answer to the nearest cent.) $618.13 Need Help? ReatGiven demand function of the orange market P = 153 - 2Qp. You sell oranges at the price TK85. %3D What is your total revenue from selling oranges that have been demanded? Calculate the total revenue. Give your answer in two decimal places.The weekly demand function for a particular product is q=f(p)=2400-15p. Where q is stated in units and p is stated in dollars. Determine the quadratic total revenue function, where R is the function of p. What is the concavity of the function? What is q intercept? What does total revenue equal at a price of 60 dollars.
- Given demand function of the orange market P = 133 - 4QD. You sell oranges at the price TK83. What is your total revenue from selling oranges that have been demanded? Calculate the total revenue.Daffy’s is a pet care company that recently increased the average price of its services by 5%. As a result, the number of customers dropped by 4%. How will this 5% increase of the average price of services impact total revenue at Daffy’s?Suppose the demand function for a product is given by pq+p=5000 where p is price in dollars and q is the number of units sold. If the price is $50 and increasing by $2 per week, how is the quantity sold changing?
- *Chapter 4, Section 4.6, Question 013 The demand for yams is given by 4 = 5000 – 40p², where 4 is in pounds of yams and P is the price of a pound of yams. (a) At a price of 5 per pound, what is the total revenue for the yam farmer? The total revenue for the yam farmer is (b) Write revenue as a function of price, and then find the price that maximizes revenue. R(p) = Round your answer for price to two decimal places. Revenue is maximized at price of per pound. (c) What quantity is sold at the price you found in part (b), and what is the total revenue? Round your answers to two decimal places. *2 The quantity sold is and the total revenue isProducers of a certain brand of refrigerator will make 1600 refrigerators available when the unit price is $320. Ata unit price of $370, 5600 refrigerators will be marketed. Find the equation relating the unit price p of a refrigerator to the quantity supplied x if the equation is known to be linear How many refrigerators will be marketed when the unit price is s4207 refrigerators What is the lowest price at which a refrigerator will be marketed?Andy's monthly demand (in number of bars) for "Clif Builder's" protein bars is given by 9 = 8 - 2P + (I - T) /1000, where I is Andy's monthly income, T is his monthly income tax expense and P is the price of Clif bars. a) Suppose the price of Clif bars is $3.00, Andy's monthly income is $7,500, and his monthly income tax expense is $2,500. Calculate Andy's Clif bar consumption at that price, and determine his consumer surplus. b) Suppose Andy's income tax expense is decreased by 40% (his income and the price of Clif bars remain the same. Calculate the change in Andy's consumption and the change in his consumer surplus after the tax decrease. c) Illustrate your answers to parts a) and b) on a graph. Briefly explain.
- The marginal price for a weekly demand of x bottles of shampoo in a drugstore is given by the function shown below. Find the price-demand equation if the weekly demand is 150 when the price of a bottle of shampoo is $2. What is the weekly demand when the price is $4.50? - 9,000 p'(x) = (3x + 50)? 2 Find the price-demand equation. (Type an equation.)I A consumer's Marshallian demand for y is given by gy(Pa, Py, I) = —— 3. The price of Py = good y is py 4 and the consumer's income is I = 15. What is ey,py, the consumer's own price elasticity of demand for y? (a) −15 (b) -5 (c) -5/12 (d) −1 (e) -15/16The demand equation for school lunches is x=100-10pwhere x is the number of lunches purchases and p is the price in dollars. Which of the following represents E(p)? A) p/10-p b) -p/10-p c) p/20-p d) -p/100-10p e) p2/100-10p
