For the following demand function, find a. E, and b. the values of q (if any)...
For the following demand function, find a. E, and b. the values of q (if any) at which total revenue is maximized. q 36,400-8p2 a. Determine the elasticity of demand, E E (Type expression using p as the variable.) = an b. Determine the value of q that maximizes the revenue. Select the correct choice below, and if necessary, fill in the answer box within your choice. O A. Total revenue is maximized at about q (Round to the nearest...
#22 Elasticity For each of the following demand functions, find (a) E, and (b) values of q (if any) at which total revenue is maximized. 20. 25,000 50p 22-9 = 48,000-1 24. q10 In p e 19. q 50- 4 0p2 be 21. 37,500 5p2 23. p 400e 0.24
Find the volume of the solid generated by revolving the region bounded by the lines and curves y=y=0,x= -1, and x = 8 about the x-axis. The volume of the resulting solid is units cubed. (Type an exact answer, using and e as needed.) For the following demand function, find a. E, and b. the values of a (if any) at which total revenue is maximized. p =500 e -0.44 a. Find the elasticity of demand (E) in terms of...
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...
Given the demand function is Q = 180-5P, find the following: a. The revenue function b. The revenue maximizing output and price c. The own-price elasticity ofdem and at P = $80 own-price elasticity of demand (En) is equal to one, in absolute value. What is the nature of total revenue when lepl 1?
For the demand function q = D(p) = 453 - p, find the following. a) The elasticity b) The elasticity at p = 118, 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) =
For the demand function q = D(p) = /452 - p, find the following. a) The elasticity b) The elasticity at p= 107, 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)
The average revenue (demand) for product Q is given by AR = 370 - Q and the total cost of Q by: STC=10500+10Q+Q^2 < Note: this is not a typical cubic function f. At what level of Q is revenue maximized? Remember, let MR = 0 and solve for Q. MR = 0 signals the objective of maximizing revenue. g. At what level of Q is average profit per unit maximized? Hint: the average profit function is the total profit...
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....
What is the price elasticity of demand when the demand function is Q = 200 – P2 – 6P? Is demand elastic or inelastic when P = 5? 2P+6P Answer. E=3 At P=5, E = 80/145, demand is inelastic. 200 - P2 - 6PA