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Suppose the demand function for a product is given by (picture in description below). What is the elasticity of demand when the quantity demanded is 6 tons and the price is $219? (Round your answer to one decimal place.)
6. The quantity of a product demanded by consumers is a function of its price. The quantity of one product demanded may also depend on the price of other products. For example, if the only chocolate shop in town (a monoploy) sells milk and dark chocolates, the price it sets for each affects the demand of the other. The quantities demanded, q1 and q2, of two products depend on their prices, pi and p2, as follows: q1150- 2p1 - p2...
Seе Hin Suppose the absolute value of the price elasticity of demand is 10.00. If the quantity demanded of smartphones decreases by 2.00%, there must have been an increase in the price of smartphones of %. Round to the nearest integer.
1.If the price elasticity of demand for hamburgers is 1.5 and the quantity demanded of hamburgers equals 40,000, what will happened to the quantity of hamburgers demanded if the price increases by 10%? what is the change in quantity? Briefly explain your answer. 2. Sport team want to boost revenues from ticket sales next academic year and hire you to advise the team whether to raise or lower ticket prices next year. If the elasticity of demand for Tiger games...
What is the slope of the regression line? Round your answer to one decimal place. What is the intercept of the regression line? Round your answer to one decimal place. What is forecasted demand in period 19? Round your answer to one decimal place Demand data 2598 2906 3445 5603 7097 7088 3056 3468 3899 7155 8869 8980 3580 3545 4177 6847 8768 9575
4. (6 points) Suppose the Demand for baseballs is given by Q = 120 – 4P. a) What is the price elasticity of demand when P= 10? b) At what price will Total Revenue be maximized? c) What is the firm's Marginal Revenue when the price is $12?
Find the variance for the given sample data. Round your answer to one more decimal place than the original data. 22 22 26 24 O 3.67 9.1 O 1.9 03.01
Find the variance for the given data. Round your answer to one more decimal place than the original data. 1, 4, -5, -9, and 6 a. 39.2 b. 31.4 c. 39.4 d. 39.3
Find the variance for the given data. Round your answer to one more decimal place than the original data. 18, 20, 18, 2, 7 64.0 99.2 63.9 51.2
Find the area of the triangle. Round your answer to one decimal place.$$ C=103^{\circ} 15^{\prime}, \quad a=15, \quad b=27 $$
Suppose that your demand schedule for compact discs is as follows: PRICE Quantity Demanded $ 8 10 12 14 16 Use the midpoint method to calculate your price elasticity of demand as the price of compact discs 40 32 24 16 increases from $8 to $10.