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If the demand function for a certain product is p =-6q+ 350 and the supply function...
6. If the demand function for a certain product is p = -69 + 350 and the supply function is p = 40 + 25, find the tax per item that will maximize the total tax revenue and find the maximum tax revenue. Pa = -69 + 350 Ps = 4q + 25 Pa = PS -64 + 350 = 49 +25 2q = 325 q = 162.5 tax per item Maximum tax revenue = -69 + 350 = -6(162.5)...
If the demand function for a certain product is p = -69 + 350 and the supply function is p = 49 + 25, find the tax per item that will maximize the total tax revenue and find the maximum tax revenue.
When price changes cause significant changes in demand, the demand is said to be for that product and if price changes cause relatively little change in demand, the demand is said to be for that product
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...
1. The demand function for a certain product is p = 300 - sold while p is the unit price when q units are produced where is the quantity of the product produced and a. (8 points) Find the point elasticity of demand when - 12. b. (2 points) Is the demand elastic, inelastie, or unit elastic when - 127 2. Let f(t) = the a. (4 points) Find /'!). b. (6 points) Find f"(t).
wherdemand is described as q - Note: An alternate notation for this equation is E(p)- f(p), in other words, quantity is a function of price. You may use whichever form of this equation for elasticity that you like the best, but I will use this notation in this assignment. f(p) Fill in the blank: 3. , the elasticity of demand is less than the relative change in price, and the a. If demand is called the elasticity of demand is...
3. A certain product has a supply function of p=49+5 and a demand function of p= -29 +95. If the price is $53, how many units are supplied and how many are demanded? ii) Does this give a shortfall or a surplus? Is the price likely to increase or decrease?
4) If the demand function for a fixed period of time is p = 2100 – 39 and the supply function before taxation is p=300 +1.5q, what tax per item will maximize the total tax revenue? What is the maximum tax revenue! I
Suppose the supply function for a product is p = .1q2 + 1 and the demand function is p = 85 -.2q -.1q2 where p is the price and q is the quantity. Find the equilibrium price and quantity.