If the demand function of a product is p - 0.5x + 90 where p denotes unit pric and x shows quantity, determines the selling price, at what price level is the revenue maximized? 43 90 135
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- Describe the general appearance of a demand or a supply curve with infinite elasticity.0037 The quantityy demrded each month of a certain brand of coffee machine is 280 when the unit price is $50. For each decrease in unit price of $6 below $50. the quantity demanded increases by 40 its What is the demand function? Op-5/28 8 Op--3/20 x + 92 Op-3/20 + 8 Op- 5/28 + 1The demand function for bicycles in Holland has been estimated to be Q = 2,000+ 15Y - 7.5P = where Y is income in thousands of euro, Q is the quantity demanded in units, and P is the price per unit. When P = 150 euro and Y what is: The price elasticity of demand? -1.02 O -7.5 -0.24 -0.50 The income elasticity of demand? 0.20 1.02 1.00 O 0.14 15,000 euro,
- Use the price-demand equationp+0.001x=45, 0sps45. Find the elasticity of demand whenp%3$25. If the $25 price is decreased by 4%, what is the approximate percentage change in demand? The elasticity of demand whenp%3 25 is (Type an integer or a simplified fraction.) If the price is decreased by 4%, the demand approximately %. (Type an integer or a simplified fraction.) is increases by decreases byProducers 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?Title 1. Given the demand function P = 100 − Q Calculate the price elasticity of demand when the... Description 1. Given the demand function P = 100 − Q Calculate the price elasticity of demand when the price is (a) 10 (b) 50 (c) 90 Is the demand inelastic, unit elastic or elastic at these prices? 2. Given the demand equation P = −Q2 − 10Q + 150 Find the price elasticity of demand when Q = 4. Estimate the percentage change in price needed to increase demand by 10%.
- Dashboard for Online Pricing Online the timing and tailoring of prices to specific models of products is the key to successful pricing in online markets. And “Thanks to the ready availability of data in online markets, a pricing manager can easily approximate the elasticity of demands for the different products it sells online.” Assuming a 10 percent decrease in price increases sales by 25 percent, calculate the price elasticity of demand? If the wholesale price of the online product is $50 and sells at a price comparison site that charges $.50 per click and boasts a conversion rate of 5 percent (an average of 20 clicks are needed to generate a sale). What price should you charge for the product? What is the optimal markup on cost? The authors assert that price sensitivity is affected by (1) product life cycles, and (2) numbers of competitors. In fact, “when the number of competing sellers doubles, a firm’s elasticity of demand is expected to double (and you should be able to…1.8 Suppose that the average income of a consumer decreases from R18 000 to R12 000. As a result, the quantity of Product A demanded by the consumer Increases from 200 units to 280 units. What is the income elasticity of demand for product A if calculated using the ARC (midpoint) formula? 1.42 -0.83 C. 0.83 D. -1.42P = 450 – 4Qp %3D 1 P =Qs + 25 4 Calculate demand elasticity at equilibrium: 1/8 O -1/8 8. -8
- . Penguin Co. is planning to reduce the price of its refrigerators by 10 per cent. It is also expected that the disposable income will increase by 6% during the same period. The price and income elasticity are estimated to be -1.3 and 2.0 respectively. Currently Penguin is selling 2,00,000 pieces per year. How much can Penguin hope to sell after the above changes in price and income?Please no written by hand solution Instead of assuming a linear demand curve, suppose we assume that demand is char- acterized by the following demand function qD = 13.572P −1.5 (a) Suppose the current price is $5. What is the price elasticity of demand at this price? (b) Over what range of prices is demand elastic? Inelastic? Unit elastic?The following graph shows the demand for a good. W 280 -+ 140 Y 100 40 Demand 10 25 35 70 QUANTITY (Units) For each of the regions listed in the following table, use the midpoint method to identify if the demand for this good is elastic, (approximately) unit elastic, or inelastic. PRICE (Dollars per unit)
