Q=24500-250(p). If the manufacturer raises its price by $15, what will be the predicted unit change...
Q=24500-250(p). If the manufacturer raises its price by $15, what will be the predicted unit change in quantity demanded?
Homework Answers
The coefficient of p is -250.
When p is increased by 15, change in demand = -250*15 = -3750
The demand decreases by 3750 units
Add Answer to:
Q=24500-250(p). If the manufacturer raises its price by $15,
what will be the predicted unit change...
Question 3 (5 points) Q = 25,500 - 250(P). If the manufacturer raises its price by...
Question 3 (5 points) Q = 25,500 - 250(P). If the manufacturer raises its price by $16, what will be the predicted unit change in quantity demanded? Your Answer:
detail 1. Given a demand function 250 p q + 50 where p is price and...
detail
1. Given a demand function 250 p q + 50 where p is price and q is quantity demanded (20 <q < 105), the value of price elasticity of demand when q=50 is given by a) -2.5 b) -2 c) -0.5 d) -800 e) -1.5 f) None of the above
Q(P)=2392-26P Calculate demand when P=$45 Calculate the change in quantity demanded if the price increases by...
Q(P)=2392-26P Calculate demand when P=$45 Calculate the change in quantity demanded if the price increases by $1 Calculate the price where the quantity demanded will equal zero
Question 6 Suppose you are advising an industry association on the predicted effects of a price...
Question 6 Suppose you are advising an industry association on the predicted effects of a price change on quantity demanded and total expenditure on their product. The current price is $1.00 per unit, and quantity demanded is 2,500 units per day. Based on extensive empirical studies, you know that price elasticity of demand for the product is -0.5. If the price increases to $2.00 per unit: 6.1 What is the predicted percentage change in quantity demanded? 6.2 Will total expenditure...
where p is measured in dollars. What is the predicted quantity if p= $2.00? The predicted...
where p is measured in dollars. What is the predicted quantity if p= $2.00? The predicted quantity would be Q = 123 popsicles. (En If the actual quantity demanded is 121. what is the residual? The residual would be 2. (Enter your response as a whole number.) A variable that likely is incorporated in the error term is O A. the variable cost of production O B. the fixed cost of production O C. the temperature. OD. the minimum wage....
What is the equilibrium price and quantity? P=10, Q=0 P=6,Q=4
What is the equilibrium price and quantity?
P=10,
Q=0
P=6,Q=4
P=5,Q=5
P=0,Q=10
Use the image above. What happens when the market price is
$4?
Shortage
Nothing
Surplus
Equilibrium
Using the same image. What happens if the price is
$10?
Shortage
Nothing
Surplus
Equilibrium
Demand and Supply Price $10 Quantity Demanded Quantity Supplied 0 1 2 3 4 5 6 7 8 9 10 Quantity
Problem #4: The demand equation for a product is given by p-250-0.1qdollars per unit where q is t...
Problem #4: The demand equation for a product is given by p-250-0.1qdollars per unit where q is the number of units demanded. a. If the cost of producing q units is given by C(g)-1000+80q+0.15q find the profit function. b. Use CALCULUS to estimate the cost to produce the 77th unit. How does this compare with the EXACT cost of producing the 77th unit? Include correct units. Do not round values c. Compute the marginal profit of the 100th unit. Does...
The quantity demanded each month of Russo Espresso Makers is 250 when the unit price is...
The quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $136. The quantity demanded each month is 1000 when the unit price is $106. The suppliers will market 750 espresso makers when the unit price is $76 or higher. At a unit price of $96, they are willing to market 2250 units. Both the supply and demand equations are known to be linear. (a) Find the demand equation. p = -0.04x + 145 (b)...
10,000 where p is the price per 12) The demand equation for a monopolist's product is p q225 unit (in dollars) when q u...
10,000 where p is the price per 12) The demand equation for a monopolist's product is p q225 unit (in dollars) when q units are demanded. (a) Determine the value of q for which revenue is maximum. (b) What is the maximum revenue? 13) A manufacturer found that the total cost c of producing q units of a product is given by c 0.02q22800. At what level of production will average cost be a minimum?
The demand equation for a certain product is given by p = f(q) = 25/3q2 +2...
The demand equation for a certain product is given by p = f(q) = 25/3q2 +2 where p is the unit price in dollars and q is the quantity demanded each year, measured in thousands of units. It is expected that the demand will be 2000 units for the year, with a maximum error of 10%. What is the maximum error in the predicted price?
Question 3 (5 points) Q = 25,500 - 250(P). If the manufacturer raises its price by $16, what will be the predicted unit change in quantity demanded? Your Answer:
detail
1. Given a demand function 250 p q + 50 where p is price and q is quantity demanded (20 <q < 105), the value of price elasticity of demand when q=50 is given by a) -2.5 b) -2 c) -0.5 d) -800 e) -1.5 f) None of the above
Question 6 Suppose you are advising an industry association on the predicted effects of a price change on quantity demanded and total expenditure on their product. The current price is $1.00 per unit, and quantity demanded is 2,500 units per day. Based on extensive empirical studies, you know that price elasticity of demand for the product is -0.5. If the price increases to $2.00 per unit: 6.1 What is the predicted percentage change in quantity demanded? 6.2 Will total expenditure...
where p is measured in dollars. What is the predicted quantity if p= $2.00? The predicted quantity would be Q = 123 popsicles. (En If the actual quantity demanded is 121. what is the residual? The residual would be 2. (Enter your response as a whole number.) A variable that likely is incorporated in the error term is O A. the variable cost of production O B. the fixed cost of production O C. the temperature. OD. the minimum wage....
What is the equilibrium price and quantity?
P=10,
Q=0
P=6,Q=4
P=5,Q=5
P=0,Q=10
Use the image above. What happens when the market price is
$4?
Shortage
Nothing
Surplus
Equilibrium
Using the same image. What happens if the price is
$10?
Shortage
Nothing
Surplus
Equilibrium
Demand and Supply Price $10 Quantity Demanded Quantity Supplied 0 1 2 3 4 5 6 7 8 9 10 Quantity
Problem #4: The demand equation for a product is given by p-250-0.1qdollars per unit where q is the number of units demanded. a. If the cost of producing q units is given by C(g)-1000+80q+0.15q find the profit function. b. Use CALCULUS to estimate the cost to produce the 77th unit. How does this compare with the EXACT cost of producing the 77th unit? Include correct units. Do not round values c. Compute the marginal profit of the 100th unit. Does...
The quantity demanded each month of Russo Espresso Makers is 250 when the unit price is $136. The quantity demanded each month is 1000 when the unit price is $106. The suppliers will market 750 espresso makers when the unit price is $76 or higher. At a unit price of $96, they are willing to market 2250 units. Both the supply and demand equations are known to be linear. (a) Find the demand equation. p = -0.04x + 145 (b)...
10,000 where p is the price per 12) The demand equation for a monopolist's product is p q225 unit (in dollars) when q units are demanded. (a) Determine the value of q for which revenue is maximum. (b) What is the maximum revenue? 13) A manufacturer found that the total cost c of producing q units of a product is given by c 0.02q22800. At what level of production will average cost be a minimum?
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