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Suppose the rate of change of the unit price p of video boards is p'(x) =...
The quantity demanded x ofe certain brand of DVD player is 3000/week when the unit price p is $485. For each decrease in unit price of $20 below $485, the quantity demanded increases by 500 units. The suppliers will not market any DVD players if the unit price is $300 or lower. But at a unit price of $525, they are willing to make available 2000 units in the market. The supply equation is also known to be linear (a)...
The supply equation for the BWS Bluetooth wireless loudspeaker is p = 0.025x + 30 where x is the quantity supplied per month and p is the unit price in dollars. (a) Sketch the graph of the supply curve. (Sketch the curve as a ray.) Graph Layers << 180 After you add an object to the graph you can use Graph Layers to view and edit its properties. 160 " 140 120 100 No Solution 60 40 100 200 300...
Consumers' and Producers' Surplus The quantity demanded X (in units of a hundred) of the Sportsman 5 x 7 tents, per week, is related to the unit price p (in dollars) by the relation p = -0.1x2 - x + 40. The quantity (in units of a hundred) that the supplier is willing to make available in the market is related to the unit price by the relation p = 0.1x2 + 4x + 10. If the market price is...
Suppose that the supply of x units of a product at price p dollars per unit is given by the following. p = 30 + 60 In(8x + 2) (a) Find the rate of change of supply price with respect to the number of units supplied. dp dx = (b) Find the rate of change of supply price when the number of units is 31. $ (c) Approximate the price increase associated with the number of units supplied changing from...
2. Suppose that the demand function is D(p) = 600 - 3p and the supply function is S(p) = 300 + 3p. a. Derive the equilibrium price and quantity. b. What is the change in consumer's surplus after an increase in the price of 50 dollars? c. Now suppose South Korea is exporting phone to United States and the demand function for Korean phones in the United States is the same as above (in thousands of phones), where p is...
The supply equation for a certain brand of radio is given as follows where x is the quantity supplied and p is the unit price in dollars. p s(x) = 0.3vx + 10 Use differentials to approximate the change in price when the quantity supplied is increased from 16900 units to 17400. (Give your answer correct to the nearest cent.) The supply equation for a certain brand of radio is given as follows where x is the quantity supplied and...
The domestic market for video games is illustrated in the table below. Currently the world price of video games is $15 per unit. Price per Game $10 15 20 25 30 35 Quantity Supplied (per week) 0 20 40 60 80 100 Quantity Demanded (per week) 90 80 70 60 50 40 If a $5 tariff is imposed in this market, the new level of domestic demand is games per week and the new level of domestic supply is games...
Q3 The demand schedule for gym subscriptions is in the table. Price (euros per gym subscription Quantity demanded (hundreds of gym subscriptions per year) a) What happens to total revenue if the price rises from (i) €230 to €280 per gym subscription and from (ii) €280 to €330 per gym subscription? b) At what price is total revenue at a maximum? c) At €230, is the demand for gym subscriptions elastic, inelastic, or unit elastic? Use the total revenue test...
Please explain (1 point) The number x of stereo speakers a retail chain is willing to sell per week at a price of p dollars is given by x- 81 vp + 20-350 Find the supply and instantaneous rate of change of supply when the price is 75 dollars. Supply Instantaneous rate of change of supply - stereo speakers speakers per dollar (1 point) The number x of stereo speakers a retail chain is willing to sell per week at...
Exhibit 5-9 Supply and demand curves for wood X SUPPLY 400 300 Price per unit (dollars) 200 100 0 50 DEMAND 100 150 200 250 Quantity of output (units per time period) 50. As shown in Exhibit 5-9, the price elasticity of demand for good X between points E and Dis: a. 3/7 = 0.43. b. 1. c. 1/2 = 0.50. d. 1/5 = 0.20.