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1000 If the price in dollars of a stereo system is given by p(q) = -...
Business calc 1. A stereo manufacturer finds that at a price of $500 per stereo, the...
Business calc
1. A stereo manufacturer finds that at a price of $500 per stereo, the demand is 625 stereos per month, while at a price of $400 per stereo, the demand is 675 stereos per month. Fixed costs are $2250 per month and total costs are $6,250 per month at a monthly output of 400 stereos Find the price-demand equation p(x), where p is the price in dollars at which x stereos can be sold. (b) Find the revenue...
The demand for a product can be approximated by q=D(p)=80e−0.01p, where p represents the price of...
The demand for a product can be approximated by q=D(p)=80e−0.01p, where p represents the price of the product, in dollars, and q is the quantity demanded. (a) Find the elasticity function: E(p)= (b) Evaluate the elasticity at 5. E(5)= (c) Should the unit price be raised slightly from 5 in order to increase revenue? ? yes no (d) Use the elasticity of demand to find the price pp which maximizes revenue for this product. p=p= Round to three decimal places as needed.
10,000 where p is the price per 12) The demand equation for a monopolist's product is p q225 unit (in dollars) when q u...
10,000 where p is the price per 12) The demand equation for a monopolist's product is p q225 unit (in dollars) when q units are demanded. (a) Determine the value of q for which revenue is maximum. (b) What is the maximum revenue? 13) A manufacturer found that the total cost c of producing q units of a product is given by c 0.02q22800. At what level of production will average cost be a minimum?
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...
Given the demand, in dollars, for a certain product is D(q) = 1100 - 2q, where...
Given the demand, in dollars, for a certain product is D(q) = 1100 - 2q, where q is the number of items, find the Revenue in terms of price. R(p) = 605000p - 1100p^2 R(p) = 1100p - 2p^2 R(p) = 550p - 0.5p^2 R(p) = 4p^2 - 4400p + 1210000
Just need help with 41! 41: A) What is the rate of change of price with...
Just need help with 41!
41: A) What is the rate of change of price with respect to the quantity demanded when q=49? B) Interpret your answer. 37. Revenue The revenue from the sale of a product is R = 1500x + 3000(2x + 3)-1 - 1000 dollars where x is the number of units sold. Find the marginal revenue when 100 units are sold. Interpret your result. 38. Revenue The revenue from the sale of x units of a...
§ The inverse demand function of a group of consumers for a given type of goods is given by the following: ! = −10& + 2000 [$] where q is the demand and ! is the unit price for this product. 1) For a price of 1000 $/unit, calculate the consumption, the co
§ The inverse demand function of a group of consumers for a given type of goods is given by the following: ! = −10& + 2000 [$] where q is the demand and ! is the unit price for this product. 1) For a price of 1000 $/unit, calculate the consumption, the consumers’ gross surplus, the revenue collected by the producers and the consumers’ net surplus. 2) If the price increases by 20%, calculate the change in consumption and the...
The demand function for specialty steel products is given, where p is in dollars and q...
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...
14) The demand equation for a monopolist's product is p = 200 - 0.989, where p is the price per unit (in dollars) of pr...
14) The demand equation for a monopolist's product is p = 200 - 0.989, where p is the price per unit (in dollars) of producing q units. If the total cost c (in dollars) of producing 8 units is given by c= 0.02q2 + 2q + 8000, find the level of production at which profit is maximized. 15) The demand function for a monopolist's product is p = 100 – 39, where p is the price per unit (in dollars)...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 –...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
Business calc
1. A stereo manufacturer finds that at a price of $500 per stereo, the demand is 625 stereos per month, while at a price of $400 per stereo, the demand is 675 stereos per month. Fixed costs are $2250 per month and total costs are $6,250 per month at a monthly output of 400 stereos Find the price-demand equation p(x), where p is the price in dollars at which x stereos can be sold. (b) Find the revenue...
10,000 where p is the price per 12) The demand equation for a monopolist's product is p q225 unit (in dollars) when q units are demanded. (a) Determine the value of q for which revenue is maximum. (b) What is the maximum revenue? 13) A manufacturer found that the total cost c of producing q units of a product is given by c 0.02q22800. At what level of production will average cost be a minimum?
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...
Given the demand, in dollars, for a certain product is D(q) = 1100 - 2q, where q is the number of items, find the Revenue in terms of price. R(p) = 605000p - 1100p^2 R(p) = 1100p - 2p^2 R(p) = 550p - 0.5p^2 R(p) = 4p^2 - 4400p + 1210000
Just need help with 41!
41: A) What is the rate of change of price with respect to the quantity demanded when q=49? B) Interpret your answer. 37. Revenue The revenue from the sale of a product is R = 1500x + 3000(2x + 3)-1 - 1000 dollars where x is the number of units sold. Find the marginal revenue when 100 units are sold. Interpret your result. 38. Revenue The revenue from the sale of x units of a...
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...
14) The demand equation for a monopolist's product is p = 200 - 0.989, where p is the price per unit (in dollars) of producing q units. If the total cost c (in dollars) of producing 8 units is given by c= 0.02q2 + 2q + 8000, find the level of production at which profit is maximized. 15) The demand function for a monopolist's product is p = 100 – 39, where p is the price per unit (in dollars)...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
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