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You can sell 60 pet chias per week if they are marked as $1 each, but...
You can sel 140 pet chias per week if they are marked at $1 each, but...
You can sel 140 pet chias per week if they are marked at $1 each, but only 130 each week if they are marked at $2/chi. Your chia supplier is prepared to sell you 70 chias each week they are marked at $1/chia, and 160 each week if they are marked at 2 per chia (a) Write down the associated linear demand and supply functions demand function () supply function () c) At what price should the has be marked...
The demand for your hand-made skateboards, in weekly sales, is q = -6p + 500 if...
The demand for your hand-made skateboards, in weekly sales, is q = -6p + 500 if the selling price is $p. You are prepared to supply q = 4p - 300 per week at the price $p. What price should you sell your skateboards for so that there is neither a shortage nor a surplus? per skateboard
The Metropolitan Company sells its latest product at a unit price of $8. Variable costs are...
The Metropolitan Company sells its latest product at a unit price of $8. Variable costs are estimated to be 40% of the total revenue, while fixed costs amount to $6,000 per month. How many units should the company sell per month in order to break even, assuming that it can sell up to 5,000 units per month at the planned price? ___units The demand for your factory-made skateboards, in weekly sales, is q = −5p + 50 if the selling...
The graph illustrates the market for magazine subscriptions. Price (dollars per magazine subscription) 100- Suppose the...
The graph illustrates the market for magazine subscriptions. Price (dollars per magazine subscription) 100- Suppose the current price of a magazine subscription is $70 and 3 million magazine subscriptions a year are bought. S 80- What do you predict will happen to the price of a magazine subscription? 60- A. The shortage of magazine subscriptions forces the price up 50 B. It is impossible to say what will happen to the price of a magazine subscription. 40- C. The surplus...
Mr. Porter sells 10 bottles of champagne per week at $50 per bottle. He can sell...
Mr. Porter sells 10 bottles of champagne per week at $50 per
bottle. He can sell 11 bottles per week if he lowers the price to
$45 per bottle. The quantity and the price effects on total revenue
would be, respectively, an increase of _____ and a decrease of
_____.
$450; $500
$45; $50
$495; $550
$45; $5
You sell a small number of CDs at your bookstore. You have a display that can...
You sell a small number of CDs at your bookstore. You have a display that can hold 80 CDs from various artists. When your price Ashley McBryde’s new album at $20, you sell 50 copies per week. When you raise the price to $22, you sell 40 copies per week. You can charge whatever price you like for Ashley McBryde’s CD. Now a Post Malone album is coming out with a strong demand of 100 CDs per week at a...
1. Suppose the total demand for wheat and the total supply of wheat per month in...
1. Suppose the total demand for wheat and the total supply of wheat per month in the Kansas City grain market are as shown in the table below. Thousands of Bushels Demanded Price Thousands of Bushels Supplied 85 $3. 70 80 $ 4 80 75 $ 5 90 70 $6 100 65 $ 7 110 60 $ 8 120 a. What is the equilibrium price? b. At what price is there neither a shortage nor a surplus? c. Fill in...
An electronics store sold 29 TI-89 calculators in one week when they were priced at $140 each. The next week they were priced at $150 and 22 were sold. The store's supplier will sell the store 20...
An electronics store sold 29 TI-89 calculators in one week when they were priced at $140 each. The next week they were priced at $150 and 22 were sold. The store's supplier will sell the store 20 TI-89 calculators per week when they are priced at $140 and 28 per week when they are priced at $150. Find the associated linear supply and demand functions. Then determine the equilibrium price. Type out all work. 2.
An electronics store sold 29...
2. (LO 3) Figure 2.17 shows the market for large bags of potato chips 3.00 2.50...
2. (LO 3) Figure 2.17 shows the market for large bags of potato chips 3.00 2.50 2.00 1.50 0 1.00 0.50 0.00 0 10 20 30 40 50 60 70 80 Quantity per week FIGURE 2.17 a) What is the equilibrium price and quantity? b) If the price is s2.25, is there a surplus or shortage of potato chips? c) lf the price is $1.50, is there a surplus or a shortage of potato chips? Price: Surplus/shortageof Surplus/shortage Quantity: units...
Francesca wants to start exercising to burn at least 1800 extra calories pet week, but she...
Francesca wants to start exercising to burn at least 1800 extra calories pet week, but she does not have much spare time for exercise According to a website, she can burn an average of 3 5 minute walking, 5 calories per minute cycling, and 10 calories per minute swimming She would like her total time walking and cycling to be at least 3 tmes as long like to walk at least 50 minutes per week How much time should she...
You can sel 140 pet chias per week if they are marked at $1 each, but only 130 each week if they are marked at $2/chi. Your chia supplier is prepared to sell you 70 chias each week they are marked at $1/chia, and 160 each week if they are marked at 2 per chia (a) Write down the associated linear demand and supply functions demand function () supply function () c) At what price should the has be marked...
The demand for your hand-made skateboards, in weekly sales, is q = -6p + 500 if the selling price is $p. You are prepared to supply q = 4p - 300 per week at the price $p. What price should you sell your skateboards for so that there is neither a shortage nor a surplus? per skateboard
The graph illustrates the market for magazine subscriptions. Price (dollars per magazine subscription) 100- Suppose the current price of a magazine subscription is $70 and 3 million magazine subscriptions a year are bought. S 80- What do you predict will happen to the price of a magazine subscription? 60- A. The shortage of magazine subscriptions forces the price up 50 B. It is impossible to say what will happen to the price of a magazine subscription. 40- C. The surplus...
Mr. Porter sells 10 bottles of champagne per week at $50 per
bottle. He can sell 11 bottles per week if he lowers the price to
$45 per bottle. The quantity and the price effects on total revenue
would be, respectively, an increase of _____ and a decrease of
_____.
$450; $500
$45; $50
$495; $550
$45; $5
1. Suppose the total demand for wheat and the total supply of wheat per month in the Kansas City grain market are as shown in the table below. Thousands of Bushels Demanded Price Thousands of Bushels Supplied 85 $3. 70 80 $ 4 80 75 $ 5 90 70 $6 100 65 $ 7 110 60 $ 8 120 a. What is the equilibrium price? b. At what price is there neither a shortage nor a surplus? c. Fill in...
An electronics store sold 29 TI-89 calculators in one week when they were priced at $140 each. The next week they were priced at $150 and 22 were sold. The store's supplier will sell the store 20 TI-89 calculators per week when they are priced at $140 and 28 per week when they are priced at $150. Find the associated linear supply and demand functions. Then determine the equilibrium price. Type out all work. 2.
An electronics store sold 29...
2. (LO 3) Figure 2.17 shows the market for large bags of potato chips 3.00 2.50 2.00 1.50 0 1.00 0.50 0.00 0 10 20 30 40 50 60 70 80 Quantity per week FIGURE 2.17 a) What is the equilibrium price and quantity? b) If the price is s2.25, is there a surplus or shortage of potato chips? c) lf the price is $1.50, is there a surplus or a shortage of potato chips? Price: Surplus/shortageof Surplus/shortage Quantity: units...
Francesca wants to start exercising to burn at least 1800 extra calories pet week, but she does not have much spare time for exercise According to a website, she can burn an average of 3 5 minute walking, 5 calories per minute cycling, and 10 calories per minute swimming She would like her total time walking and cycling to be at least 3 tmes as long like to walk at least 50 minutes per week How much time should she...
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