Physics for Scientists and Engineers with Modern Physics
10th Edition
ISBN: 9781337553292
Author: Raymond A. Serway, John W. Jewett
Publisher: Cengage Learning
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Chapter 1, Problem 32AP
To determine
To explain: The reason for the given situation is impossible.
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The Physics Club sells E = mc² T-shirts at the local flea market. Unfortunately, the club's previous administration has been losing money for years, so you decide to do an analysis of the sales. A
quadratic regression based on old sales data reveals the following demand equation for the T-shirts:
q = -2p2 + 33p
(9 sps 15).
Here, p is the price the club charges per T-shirt, and g is the number it can sell each day at the flea market.
(a) Obtain a formula for the price elasticity of demand for E = mc? T-shirts.
E =
(b) Compute the elasticity of demand if the price is set at $9 per shirt. (Round your answer to two decimal places.)
Interpret the result.
The demand for E = mc2 T-shirts is going ?
v by about
% per 1% increase in the price.
(c) How much should the Physics Club charge for the T-shirts to obtain the maximum daily revenue?
$
What will the revenue be?
$
A retailer buys Dalmatian stuffies for $6 each. (Assume that the retailer has no other variable costs). The retailer can only charge by the dollar so no
need to consider cents -- e.g., $3 is a price you could choose, $3.11 or $2.99 are not. The potential customers have the following WTP.
Student (1= yes) Parent (1=yes) Cat Lover (yes =1) Over 65? (1=yes) WTP
1 $20
O $20
1 $18
1 $15
O $15
O $14
O $14
1 $14
O $14
1 $13
O $10
1
1
1
1
1
1
1
1
O $8
O $8
1
$7
1
1
$7
1 $5
O $5
1
1
1
1 $5
O $4
1 $3
1
1
1
If you can only charge a single price what is the best price to maximize revenue?
The Physics Club sells E =
mc T-shirts at the local flea market. Unfortunately, the club's previous administration has been losing money for years, so you decide to do an analysis of the sales. A
quadratic regression based on old sales data reveals the following demand equation for the T-shirts.
q = -2p2 + 33p
(9 < p< 15)
Here, p is the price the club charges per T-shirt, and q is the number it can sell each day at the flea market.
(a) Obtain a formula for the price elasticity of demand for E = mc2 T-shirts.
E =
(b) Compute the elasticity
demand if
price is set at $10 per shirt. (Round your answer to two
places.)
Interpret the result.
The demand for E = mc2 T-shirts is going ?
O by about
% per 1% increase in the price.
(c) How much should the Physics Club charge for the T-shirts to obtain the maximum daily revenue?
$
What will the revenue be?
$
Chapter 1 Solutions
Physics for Scientists and Engineers with Modern Physics
Ch. 1.1 - In a machine shop, two cams are produced, one of...Ch. 1.3 - True or False: Dimensional analysis can give you...Ch. 1.4 - The distance between two cities is 100 mi. What is...Ch. 1 - Prob. 1PCh. 1 - Prob. 2PCh. 1 - Prob. 3PCh. 1 - Prob. 4PCh. 1 - You have been hired by the defense attorney as an...Ch. 1 - A surveyor measures the distance across a straight...Ch. 1 - A crystalline solid consists of atoms stacked up...
Ch. 1 - The position of a particle moving under uniform...Ch. 1 - Prob. 9PCh. 1 - (a) Assume the equation x = At3 + Bt describes the...Ch. 1 - A solid piece of lead has a mass of 23.94 g and a...Ch. 1 - Why is the following situation impossible? A...Ch. 1 - Prob. 13PCh. 1 - Let AI represent the density of aluminum and Fe...Ch. 1 - One gallon of paint (volume = 3.78 103 m3) covers...Ch. 1 - Prob. 16PCh. 1 - (a) Compute the order of magnitude of the mass of...Ch. 1 - To an order of magnitude, how many piano tuners...Ch. 1 - Your roommate is playing a video game from the...Ch. 1 - How many significant figures are in the following...Ch. 1 - The tropical year, the time interval from one...Ch. 1 - Prob. 22PCh. 1 - Review. In a community college parking lot, the...Ch. 1 - Prob. 24PCh. 1 - Review. The ratio of the number of sparrows...Ch. 1 - Prob. 26PCh. 1 - Prob. 27PCh. 1 - Prob. 28PCh. 1 - Prob. 29APCh. 1 - Prob. 30APCh. 1 - The distance from the Sun to the nearest star is...Ch. 1 - Prob. 32APCh. 1 - Prob. 33APCh. 1 - A spherical shell has an outside radius of 2.60 cm...Ch. 1 - Air is blown into a spherical balloon so that,...Ch. 1 - In physics, it is important to use mathematical...Ch. 1 - The consumption of natural gas by a company...Ch. 1 - A woman wishing to know the height of a mountain...Ch. 1 - Prob. 39CP
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