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find the revenue equation, use calculus to find where the revenue is increasin and decreasing, sketch...
The demand function for specialty steel products is given, where p is in dollars and q...
The demand function for
specialty steel products is given, where p is in dollars and q is
the number of units. p = 150 3 130 − q (a) Find the elasticity of
demand as a function of the quantity demanded, q. η = (b) Find the
point at which the demand is of unitary elasticity. q = Find
intervals in which the demand is inelastic and in which it is
elastic. (Enter your answers using interval notation.) inelastic
elastic...
dont need multiple choicd just fill in the blank In this problem, p is in dollars...
dont need multiple choicd just fill in the blank
In this problem, p is in dollars and is the number of units. Suppose that the demand for a product is given by + ?)=3-1380 (a) Find the elasticity when - s. (Round your answer to two decimal places.) (b) Tell what type of elasticity this is. Demand is elastic Demand is inelastic. Demand is unitary. (c) How would a price increase affect revenue? An increase in price increases revenue. An...
Unit 3 Block 4 homework Recall that the price elasticity of demand is found using the formula E =...
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...
In this problem, p is in dollars and q is the number of units. (a) Find...
In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand function 2p + 39 = 216 at the price p = 12. (b) How will a price increase affect total revenue? O Since the demand is elastic, an increase in price will decrease the total revenue. O Since the demand is unitary, there will be no change in the revenue with a price increase. Since the demand is elastic,...
If the monthly demand function is p = 8,500 - 6q2 and the supply function be...
If the monthly demand function is p = 8,500 - 6q2 and the supply function be taxation is p = 25+ 30q, what tax per item will maximize the total tax revenue Supply function after taxation = p= 25 + 3092 + t 25 + 3092 + t = 8500 - 697 2. For the following demand equation, p(q) = 10 - 0.22366 find the revenue equation, use calculus to find where the revenue is increasing and decreasing, sketch the...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms of P ii) Determine the range of P values for which the de- mand curve is perfectly elastic, elastic, unitary elas tic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0< P < 10, unitary elastic at P 10, etc) iii) Calculate the price-elasticity of demand at P-3 and give an interpretation in words of what that means...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms of P ii) Determine the range of P values for which the de- mand curve is perfectly elastic, elastic, unitary elas tic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0< P < 10, unitary elastic at P 10, etc) iii) Calculate the price-elasticity of demand at P-3 and give an interpretation in words of what that means...
For each of the following demand curves: i) Find the price-elasticity of demand in terms of...
For each of the following demand curves: i) Find the price-elasticity of demand in terms of P. ii) Determine the range of P values for which the demand curve is perfectly elastic, elastic, unitary elastic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0 < P < 10, unitary elastic at P = 10, etc). iii) Calculate the price-elasticity of demand at P = 3 and give an interpretation in words of what that...
For each of the following demand curves: i) Find the price-elasticity of demand in terms of...
For each of the following demand curves: i) Find the price-elasticity of demand in terms of P. ii) Determine the range of P values for which the demand curve is perfectly elastic, elastic, unitary elastic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0 < P < 10, unitary elastic at P = 10, etc). iii) Calculate the price-elasticity of demand at P = 3 and give an interpretation in words of what that...
For the demand function q =D(P) = 340 - p, find the following. a) The elasticity...
For the demand function q =D(P) = 340 - p, find the following. a) The elasticity b) The elasticity at p = 105, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars) a) Find the equation for elasticity E(p) = 0 b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity....
The demand function for
specialty steel products is given, where p is in dollars and q is
the number of units. p = 150 3 130 − q (a) Find the elasticity of
demand as a function of the quantity demanded, q. η = (b) Find the
point at which the demand is of unitary elasticity. q = Find
intervals in which the demand is inelastic and in which it is
elastic. (Enter your answers using interval notation.) inelastic
elastic...
dont need multiple choicd just fill in the blank
In this problem, p is in dollars and is the number of units. Suppose that the demand for a product is given by + ?)=3-1380 (a) Find the elasticity when - s. (Round your answer to two decimal places.) (b) Tell what type of elasticity this is. Demand is elastic Demand is inelastic. Demand is unitary. (c) How would a price increase affect revenue? An increase in price increases revenue. An...
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...
In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand function 2p + 39 = 216 at the price p = 12. (b) How will a price increase affect total revenue? O Since the demand is elastic, an increase in price will decrease the total revenue. O Since the demand is unitary, there will be no change in the revenue with a price increase. Since the demand is elastic,...
If the monthly demand function is p = 8,500 - 6q2 and the supply function be taxation is p = 25+ 30q, what tax per item will maximize the total tax revenue Supply function after taxation = p= 25 + 3092 + t 25 + 3092 + t = 8500 - 697 2. For the following demand equation, p(q) = 10 - 0.22366 find the revenue equation, use calculus to find where the revenue is increasing and decreasing, sketch the...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms of P ii) Determine the range of P values for which the de- mand curve is perfectly elastic, elastic, unitary elas tic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0< P < 10, unitary elastic at P 10, etc) iii) Calculate the price-elasticity of demand at P-3 and give an interpretation in words of what that means...
3. For each of the following demand curves i) Find the price-elasticity of demand in terms of P ii) Determine the range of P values for which the de- mand curve is perfectly elastic, elastic, unitary elas tic, inelastic and perfectly inelastic (your answer will look like, the demand is inelastic for 0< P < 10, unitary elastic at P 10, etc) iii) Calculate the price-elasticity of demand at P-3 and give an interpretation in words of what that means...
For the demand function q =D(P) = 340 - p, find the following. a) The elasticity b) The elasticity at p = 105, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars) a) Find the equation for elasticity E(p) = 0 b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity....
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