Problem 1 (a) Find the elasticity, using calculus, of P = -3Q + 18 when Q-4...
(a) Find the elasticity, using calculus, of P = -3Q + 18 when Q = 4 (b) Find the elasticity, using calculus, of P = Q^2-8Q+16 when Q=2
a) Find the elasticity, using calculus, of P = -2Q + 9 when Q = 2 b)Find the elasticity, using calculus, of P = Q2 – 10Q + 25 when Q = 3
Monopoly: Assume: P = 16 – 2Q TC = 3Q^2 + 4Q + 3 Find: P,Q, TR,TC, profit, and elasticity at profit max. Please show all your work
3. Given the following, find Q'. P = 200 - 3Q MC = 3Q FC = 0
Solve for the elasticity of substitution for the following production function using calculus: y = ((a^p)+(b^p))^k/p
1. We have the demand function P = 24 3Q for a product. (a) Calculate the price elasticity when price is $14. (b) Suppose there is only one firm in this market (monopoly), and the firm’s total revenue is defined as P*Q. What’s the price level that maximizes the total revenue?
business calc question: Unit 3 Block 4 homework Recall that the price elasticity of demand is found using the formula E = Q'(p) 1) For a certain company, the relationship between the price per sprocket and the number of sprockets sold is given by the function Q(p)- 745.68p 1517 where p is in dollars, and Q is the number of sprockets sold in milions i) Find the price elasticity of demand when the price of the sprockets is $3.28. Show...
1. Let demand be P(Q) = 6 ---Q. What is the price elasticity of demand at Q = 4? 1 a. E = — 4 1 C. b. E =- 2 E = -4 d. E = -2 2. Suppose we have 3 types of households each with private demand for a public good (like flood protection) of P (Q) = 5, P2(Q) = 10 - Q, and P3(Q) = 20 – 2Q. What is the social demand curve for...
find the revenue equation, use calculus to find where the revenue is increasin and decreasing, sketch the graph of the revenue equation. 3. For the following function, I q = 20(10-p), 0 <p s 10 find the elasticity of demand function, regions of elastic, unitary, and inelastic demand. Your answers should involve both variables p and q. 4. The equations in problems 3 and 4 represent the same relationship between the supply and demand. The equation in problem 3 is...
1. Consider a monopolist having market demand given by p = 50 - Q, and TC = 60Q - 3/2 x Q^2 which gives MC = 60 - 3Q. (b) Find the elasticity of demand at the optimal output