Suppose the demand and supply functions for product X are as follows: QXD=100-.5PX-.2PC+.8PS+.0005Y+.0004A QXS=25+.5PX where, PC is the price of product C, which is currently $25; PS is the price of product S, which is currently $80; Y is the level of per capita income, which is currently $20,000; and A is monthly advertising, which is currently $15,000. What is the equilibrium market quantity of product X? Select one: a. 75 units b. 100 units c. 150 units d. 175 units e. 125 units

Suppose the makers of PEZ candies have decided to test market a new dispenser with red, white, and blue candies. The PREZ dispenser (as it will be called in 2024) bearing the likeness of each political party's presidential candy-date is estimated to have a market demand given by: 5Q = 3000 - 200p where p is expressed in dollars per dispenser and Q is expressed in thousands of dispensers sold per week. a. If p= $6 per PREZ dispenser, how many PREZ dispensers will be sold that week? Less than a thousand? b. If p = $6 per PREZ dispenser, what will be the price elasticity of demand? PLEZ show your work. c. If the objective is to maximize revenue, how much would you recommend the company charge per PREZ dispenser?

1) Assume that the percentage change of the price of product A is 5% (%Px and the percentage change of quantity demanded is - 10% (%Δqd), Find the following, a) The price elasticity of demand b) Is the demand for this product elastic or inelastic? c) If the price of the product A increases, What happens to total revenue? (increases or decreases)  d) if the price increases by 1% by how much quantity demanded will decrease (more than 1%, less than 1%, or by exactly by 1%)   2) Assume that the percentage increase in the price of product X ( %ΔPx) is 4% and the percentage change in quantity demanded in product Y ( %Δqd) is -5%, find the cross price elasticity (Eyx), are product X and Y substitutes or complements?         3) Assume that the percentage increase in income (%ΔI) is 4% and the percentage decrease in the quantity demanded  (%Δq) is -6%, find  income elasticity (EI), Is this product a normal or inferior product?       4) Is the elasticity for Corn flakes cereal is greater of less…

= D(x) = 23 Espacio en Blanco 1: Espacio en Blanco 2: Espacio en Blanco 3: P = 1 X 20 and the price-supply equation = S(x) P = Given the price-demand equation (A) Find the equilibrium price. Answer: The equilibrium price is $ (use 2 decimal places) (B) The total gain to producers who are willing to supply units at a lower price is $ (C) The total savings to consumers who are willing to pay a higher price for the product is $ = 8+ 1 8000 (round to 2 decimal places) (use 2 decimal places)