During the 1950s the wholesale price for chicken for a country fell from 25e per pound to 14e per pound, while per capita chicken consumption rose from 21.5 pounds per year to 27 pounds per year. Assume that the demand for chicken depended linearly on the pric (a) Construct a linear demand function q(p), where p is in cents (e.g., use 14e, not $0.14). Then, find the revenue function. R(p). R(P) = (b) What wholesale price for chicken would have maximized revenues for poultry farmers? e per pound Second derivative test: Your answer above is a critical point for the revenue function. To show it is a maximum, calculate the second derivative of the revenue function. R"(p)=

Let's say jacky has a demand function for a product made in Ney york city given that the function D(q)=-1.15q+270, where q is the number of items in demand and D(q) is the price per item, in dollars, that can be charged when q units are sold. Say that the fixed costs of production for the item is $5,000 and variable costs are $10 per item produced. If 100 items are produced and sold, what are the finds :

The demand for product X depends on the price of product X as well as the average household income (Y) according to the following relationship Qdx=800-5P+0.001Y The supply of product X is positively related to own price of product X and negatively dependent upon W, the price of some input. This relationship is expressed as: Qsx= 100+ 45 P-4 W Given that Y = 50,000 and W= 4, what is the 1. Equilibrium price? Number 2. Equilibrium quantity? Number Suppose that income increases to 60,000 and W remains constant. What is the new: 3. Equilibrium price? Number 4. Equilibrium quantity? Number Assuming that income remains constant at 60,000 and W increases to 9, what is the new: 5: Equilibrium price? Number 6. Equilibrium quantity? Number

The demand function for apples is the following. Qn = 10 – Pn + 0.2Y +0.5 Pc – 2Ps + 0.2A Where: Qn = annual sales of apples (millions of kilos) Pn = price of apples (£1 per kilo) Y  = disposable income in the UK £trillions (£10 trillions) Pc = price of a pies £ per kilo (£2 per kilo) Ps = price of pear (£2 per kilo) A = advertising measured in hundreds of thousands of £5 (use as 5 in your calculations) What is the demanded quantity for apple now, based on this equation? a. 3 million kilos b. 6 million kilos c. 9 million kilos d. 12 million kilos e. All the other answers are wrong.

Assume that the demand curve D(p) given below is the market demand for widgets: Q = D(p) = 1183-12p, p > 0 Let the market supply of widgets be given by: Q = S(p) = -5 + 10p, p > 0 where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price. What is the equilibrium price? Please round your answer to the nearest hundredth. What is the equilibrium quantity? Please round your answer to the nearest integer. What is the total revenue at equilibrium? Please round your answer to the nearest integer

The market for gravel has the following demand and supply relationships: Supply function: Q = 100P - 1,000 Inverse demand function: P = 50 - 0.01*Q + PX, where P represents price of gravel per ton in dollars, Q represents sales of gravel per week in tons, and PX is the price of some other product X in dollars per unit. Let PX = $50/ton In a diagram, qualitatively describe the change that would occur in the market for gravel (i.e. equilibrium price and quantity) if a new discovery has just made the production of product X cheaper. Briefly explain whether it is a movement along or shift of demand curve and supply curve for gravel. In addition to the new discovery regarding product X in previous question), suppose now workers producing gravel ask for sick leave due to COVID. Use supply and demand analysis to predict how these two shocks will affect equilibrium price and sales. Illustrate your results in a diagram. Is there enough information to determine if market prices will rise or…

I need some help  Consider the equations and graphs for the demand and supply functions given below. Then answer the following questions. P=5Q^2+72Q P=-Q^2-3Q+20.23 State the domain for these curves for the analysis to be valid. (Answer to 2 decimal places)

The demand function for apples is the following. Qn = 10 – Pn + 0.2Y +0.5 Pc – 2Ps + 0.2A Where: Qn = annual sales of apples (millions of kilos) Pn = price of apples (£1 per kilo) Y  = disposable income in the UK £trillions (£10 trillions) Pc = price of a pies £ per kilo (£2 per kilo) Ps = price of pear (£2 per kilo) A = advertising measured in hundreds of thousands of £5 (use as 5 in your calculations)   Q. How much will the demanded quantity change if the price of apples increases to 1.5? a. It will decrease by 0.4 million kilos. b. It will decrease by 0.5 million kilos. c. It will increase by 2 million kilos. d. It will increase by 0.5 million kilos. e. All the other answers are wrong.

The demand function for a certain product is determined by the fact that the product of the price and the quantity demanded equals 8000. The product currently sells for $2.20 per unit. Suppose manufacturing costs are increasing over time at a rate of 18% and the company plans to increase the price p at this rate as well. Find the rate of change of demand over time. Find the demand function represented in this problem where p is the price of the product and q is the quantity demanded for the product. (Type an equation.)

The demand function for apples is the following. Qn = 10 – Pn + 0.2Y +0.5 Pc – 2Ps + 0.2A Where: Qn = annual sales of apples (millions of kilos) Pn = price of apples (£1 per kilo) Y  = disposable income in the UK £trillions (£10 trillions) Pc = price of a pies £ per kilo (£2 per kilo) Ps = price of pear (£2 per kilo) A = advertising measured in hundreds of thousands of £5 (use as 5 in your calculations)   What direction should the apple producers move the price if they wanted to maximize their revenue? a. There is not enough information. b. Don't change the price. c. Cut the price. d. Raise the price.