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41: A) What is the rate of change of price with...
The demand function for a product is p= 108 - 0.2x where p is the price...
The demand function for a product is p= 108 - 0.2x where p is the price per unit(in dollars) and x is the number of units. a. Use differentials to approximate the change in revenue as sales increase from 20 units to 21 units. Compare this the actual change in revenue. b. Repeat step (a) when sales increase from 40 units to 41 units.
The demand for q units of a product depends on the price p (in dollars) according...
The demand for q units of a product depends on the price p (in dollars) according to -1, for p > 0. Find and explain the meaning of the instantaneous rate of change of demand with respect to price when the price is as follows. (a) $16 Interpret the instantaneous rate of change. If price increases by the absolute value of this amount, the demand will drop by 1 unit. If price decreases by the absolute value of this amount,...
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...
Please solve all of them. 7. The revenue function for a product is given by 60x2...
Please solve all of them.
7. The revenue function for a product is given by 60x2 R(x) = 2x+1 a. Find the marginal revenue function The price of a product in a competitive market is $300. The cost per unit of producing the product is 160 + 0.1% dollars, where x is the number of units produced per month a. Find the marginal cost function. b. Find the marginal revenue function b. Find MR(100) and interpret your results. c. Find...
1. A manufacturer has found that when n employees are working, the number of units of...
1. A manufacturer has found that when n employees are working, the number of units of product produced per day is q = 107 m2 + 3600 - 600. The demand equation for the product is 90+ p- 7200 = 0, where p is the selling price in dollars when the demand for the product is q units per day. (a) Determine the manufacturers marginal revenue MR when n=80, i.e., the relative rate of change of revenue with respect to...
1000 If the price in dollars of a stereo system is given by p(q) = -...
1000 If the price in dollars of a stereo system is given by p(q) = - 2 +500, where a represents the demand for the product, find the marginal revenue when the demand is 10. The marginal revenue for the given demand is $ 1.
Because the derivative of a function represents both the slope of the tangent to the curve...
Because the derivative of a function represents both the slope of the tangent to the curve and the instantaneous rate of change of the function, it is possible to use information about one to gain information about the other. Consider the graph of the function y = f(x) given in the figure. (a) Over what interval(s) (a) through (d) is the rate of change of f(x) positive? (Select all that apply.) OOOO (b) Over what interval(s) (a) through (d) is...
13,000 34 cellular phones at a price p dollars per phone. The current price is $102. electronic store can sell q(0+41 (p+41) a) Is demand elastic or inelastic at p 102? (b) If the price is raised sli...
13,000 34 cellular phones at a price p dollars per phone. The current price is $102. electronic store can sell q(0+41 (p+41) a) Is demand elastic or inelastic at p 102? (b) If the price is raised slightly, will revenue increase or decrease? (a) Is the demand elastic or inelastic at p 102? O A. Elastic, because E(p)when p 102, which is greater than 1. O B. Elastic, because E(p) when p 102, which is less than 1 OC. Inelastic,...
Rate of change Question 2 A product is being sold currently for $25 with the price increasing at the rate of $2 per year. At this price, customers buy 150 thousand items but the quantity being bought...
Rate of change
Question 2 A product is being sold currently for $25 with the price increasing at the rate of $2 per year. At this price, customers buy 150 thousand items but the quantity being bought is decreasing at the rate of 8 thousand per year Remember Revenue R(t) Quantity Q(e) x Price P(t) and show units. (a) If Q(0) is 150 (thousand) items, what is q'(0)? (b) What is P(O) (c) Hence find the rate at which the...
Questions 4 and 5 refer to the following: Worldwide annual sales of smartphones in 2014-2016 were...
Questions 4 and 5 refer to the following: Worldwide annual sales of smartphones in 2014-2016 were projected to be approximately q = -6p + 2496 million phones at a selling price of p dollars. Find the formula for price elasticity of demand E and use it to answer the questions 4 and 5. Find the price elasticity of demand when the price is $253 and interpret your answer. Write a complete sentence or sentences including appropriate units. What selling price...
The demand function for a product is p= 108 - 0.2x where p is the price per unit(in dollars) and x is the number of units. a. Use differentials to approximate the change in revenue as sales increase from 20 units to 21 units. Compare this the actual change in revenue. b. Repeat step (a) when sales increase from 40 units to 41 units.
The demand for q units of a product depends on the price p (in dollars) according to -1, for p > 0. Find and explain the meaning of the instantaneous rate of change of demand with respect to price when the price is as follows. (a) $16 Interpret the instantaneous rate of change. If price increases by the absolute value of this amount, the demand will drop by 1 unit. If price decreases by the absolute value of this amount,...
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...
Please solve all of them.
7. The revenue function for a product is given by 60x2 R(x) = 2x+1 a. Find the marginal revenue function The price of a product in a competitive market is $300. The cost per unit of producing the product is 160 + 0.1% dollars, where x is the number of units produced per month a. Find the marginal cost function. b. Find the marginal revenue function b. Find MR(100) and interpret your results. c. Find...
1. A manufacturer has found that when n employees are working, the number of units of product produced per day is q = 107 m2 + 3600 - 600. The demand equation for the product is 90+ p- 7200 = 0, where p is the selling price in dollars when the demand for the product is q units per day. (a) Determine the manufacturers marginal revenue MR when n=80, i.e., the relative rate of change of revenue with respect to...
1000 If the price in dollars of a stereo system is given by p(q) = - 2 +500, where a represents the demand for the product, find the marginal revenue when the demand is 10. The marginal revenue for the given demand is $ 1.
Because the derivative of a function represents both the slope of the tangent to the curve and the instantaneous rate of change of the function, it is possible to use information about one to gain information about the other. Consider the graph of the function y = f(x) given in the figure. (a) Over what interval(s) (a) through (d) is the rate of change of f(x) positive? (Select all that apply.) OOOO (b) Over what interval(s) (a) through (d) is...
13,000 34 cellular phones at a price p dollars per phone. The current price is $102. electronic store can sell q(0+41 (p+41) a) Is demand elastic or inelastic at p 102? (b) If the price is raised slightly, will revenue increase or decrease? (a) Is the demand elastic or inelastic at p 102? O A. Elastic, because E(p)when p 102, which is greater than 1. O B. Elastic, because E(p) when p 102, which is less than 1 OC. Inelastic,...
Rate of change
Question 2 A product is being sold currently for $25 with the price increasing at the rate of $2 per year. At this price, customers buy 150 thousand items but the quantity being bought is decreasing at the rate of 8 thousand per year Remember Revenue R(t) Quantity Q(e) x Price P(t) and show units. (a) If Q(0) is 150 (thousand) items, what is q'(0)? (b) What is P(O) (c) Hence find the rate at which the...
Questions 4 and 5 refer to the following: Worldwide annual sales of smartphones in 2014-2016 were projected to be approximately q = -6p + 2496 million phones at a selling price of p dollars. Find the formula for price elasticity of demand E and use it to answer the questions 4 and 5. Find the price elasticity of demand when the price is $253 and interpret your answer. Write a complete sentence or sentences including appropriate units. What selling price...
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