ZuoTi.Pro
Question

A company estimates that the weekly sales q of its product is related to the products price p by the function 9= 3 16975 psA company estimates that the weekly sales q of its product is related to the products price p by the function q= 17850 p whe

math   calculus   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

- 16975 • p = $5 1 (a) &= da. P dp q da 16975, 16975 - -8 3p . dp e: } P 16975 p!P3 x 16975 colm 8813 (6) Present revenue = p

0 0
Add a comment
Know the answer?
Add Answer to:
A company estimates that the weekly sales q of its product is related to the product's...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 3. The Schmidt Corporation estimates that its demand function is Q=400 - 3P +41 +0.6 A...

    3. The Schmidt Corporation estimates that its demand function is Q=400 - 3P +41 +0.6 A where is the quantity demanded per month, P is the product's price in dollars), I is per capita disposable income in thousands of dollars), and A is the firm's advertising expenditures (in thou- sands of dollars per month). Population is assumed to be constant. a. During the next decade, per capita disposable income is expected to increase by $5,000. What effect will this have...

  • 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.

  • Primo Inc. has the following weekly demand and cost relationships:                         q = 600 - 0.5P...

    Primo Inc. has the following weekly demand and cost relationships:                         q = 600 - 0.5P                         TC = q3 - 66.5q2 + 1560q + 2000 1. Determine the total revenue maximizing levels of output (q) and price (P). What is the elasticity of demand (in absolute value) at this solution? 2. Determine the profit maximizing levels of output (q) and price (P). Make sure and evaluate second order conditions. What is the elasticity of demand (in absolute value) at...

  • Given the demand function q = function. – 0.06p? + 3p find the elasticity E =...

    Given the demand function q = function. – 0.06p? + 3p find the elasticity E = Preview Use the elasticity function to determine the elasticity of demand when the price is $11.00 E(11) = Preview At this price, we would say the demand is: Inelastic Unit Elastic Elastic Based on this, to increase revenue we should: Keep Prices Unchanged Lower Prices Raise Prices License Points possible: 5 This is attempt 1 of 5.

  • 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...

  • The manager of a local monopoly estimates that the elasticity of demand for its product is...

    The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm’s marginal cost is constant at $30 per unit. a. Express the firm’s marginal revenue as a function of its price. MR = ________ × P b. Determine the profit-maximizing price.

  • 1. After a careful statistical analysis, the Franklin Company concludes the demand function for its product...

    1. After a careful statistical analysis, the Franklin Company concludes the demand function for its product is     Q = 16,784 – 232.43P + 0.225M – 895.3PR Where Q is the quantity demanded of its product, P is the price of its product, PRis the price of its rival product, and M is consumers’ per capita disposable income. At present, P = $22.50, PR = $12.50, and M = $43,499.       a. What is the price elasticity of demand...

  • The manager of a local monopoly estimates that the elasticity of demand for its product is...

    The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -2. The firm's marginal cost is constant at $20 per unit. a. Express the firm's marginal revenue as a function of its price. Instruction: Enter your response rounded to two decimal places. MR = P b. Determine the profit-maximizing price. Instruction: Use the rounded value calculated above and round your response to two decimal places. $

  • The manager of a local monopoly estimates that the elasticity of demand for its product is...

    The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm’s marginal cost is constant at $35 per unit. a. Express the firm’s marginal revenue as a function of its price. Instruction: Enter your response rounded to two decimal places. MR = × P b. Determine the profit-maximizing price. Instruction: Use the rounded value calculated above and round your response to two decimal places. $

  • The demand function for a Christmas music CD is given by q=D(p)=0.25(225−p2) where qq (measured in...

    The demand function for a Christmas music CD is given by q=D(p)=0.25(225−p2) where qq (measured in units of a hundred) is the quantity demanded per week and pp is the unit price in dollars. (a) Find the elasticity function E(p)=   (b) Evaluate the elasticity at 10. E(10)=   (c) Should the unit price be lowered slightly from 10 in order to increase revenue?   ?    yes    no    (d) Use the elasticity of demand to find the price which maximizes revenue for this product. p= dollars...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT