The demand equation for a firm’s product has been estimated as Ln Qx = 7.3 – 2 Ln Px + 0.5 Ln I + 0.25 Ln Py - 1.5 Ln Pz, where Qx represents unit sales of brand X, Px is the price of brand X, I is per-capita income, Py is the price of brand Y, and Pz is the price of brand Z. (A)Write this demand equation in its multiplicative form. (B) What is the price elasticity of demand for brand X? is demand price elastic or inelastic? (C)What is the income elasticity of demand for brand X? What type of good is brand X?

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 inverse demand curve corresponding to the following equation is:  Qd= 100 - 3P The inverse equation is?

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.

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Market for ABC company’s clothing ABC clothing company produces clothing that is sold online and in catalogs, which is catered to a lower income consumer. Suppose the company’s demand curve for 2019 was the following:   Qd = 2000 – 150P +1.1A + 15PDEF   And the company’s supply curve was Qs = 250 + 5P,   where Qd is the quantity of product demanded for ABC company clothing P = the average price of goods produced by ABC company A = Advertising expenditures in dollars PDEF = the average price of DEF clothing, a competitor’s clothing, in dollars Qs is the quantity of product supplied for ABC company’s clothing Calculate the price elasticity of demand for good ABD. Based on your answer, if the company increases prices, what will happen to total revenue?

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ATV is a price-setting firm and estimates the demand for its cement using a demand function in the linear form: Q = f( P, M, PR) where Qc =  demand for cement/month (in yards) Pc = the price of cement per yard, M = country’s tax revenues per capita, and PR = the price of asphalt per yard. DEPENDENT VARIABLE Qc R- SQUARE P- VALUE ON F     64 0.8093 0.0001             INDEPENDENTVARIABLE PARAMETER ESTIMATE STANDARD ERROR T-RATIO P-VALUE INTERCEPT 8.20  4.01 2.04 0.0461           PC -3.54 1.64 -2.16 0.0357 M 0.64287 0.19 3.38 0.0014 PA 0.7854 0.38 2.07 0.0439 10. Write the resulting regression equation.

An estimate of the demand function for household furniture produced the following results: F = 0.0036 Y¹.08 R0.16 p(-0.48) where F = furniture expenditures per household Y = disposable personal income per household R = value of private residential construction per household P = ratio of the furniture price index to the consumer price index The point price elasticity for household furniture is r² = 0.996 and the income elasticity is According to the estimated model, a 10 percent increase in the value of private residential construction per household demanded by percent. the quantity