The price-demand equation for avocados is 10p+x=20, where p is the price of an avocado and...
The price-demand equation for avocados is 10p+x=20, where p is the price of an avocado and x is the weekly demand (in thousands) for avocados. Write an expression for revenue as a function of the weekly price for avocados. (Rp)=?
Homework Answers
Add Answer to:
The price-demand equation for avocados is 10p+x=20, where p is
the price of an avocado and...
The estimated monthly U.S. demand function for avocados is Q=144-40p+20pt, where p is the price of...
The estimated monthly U.S. demand function for avocados is
Q=144-40p+20pt, where p is the price of avocados and pt is the
price of tomatoes. The estimated supply function is Q=50+15p.The
initial price of tomatoes is $0.80 per pound. Using algebra,
determine the initial equilibrium price and quantity of avocados,
and then determine how price and quantity change if the price of
tomatoes increases by $1.15 to $1.95. Given pt=$0.80, the
initial equilibrium price of avocados is p=$?? and the initial...
How to get the bottom 2 questions Suppose the demand function for avocados is -104-40p+20pt 0.01Y...
How to get the bottom 2 questions
Suppose the demand function for avocados is -104-40p+20pt 0.01Y where p is the price of avocados, pt is the price of tomatoes, and Y is average income, and the supply function for avocados is Q-58 15p-20p, where pr is the price of fertilizer. Suppose pt SO.80, Y -$4,000, and pr $0.40. What is the equilibrium price and quantity of avocados? The equilibrium price of avocados is -$2 and the equilibrium quantity is Q80...
The price-demand equation for gasoline is 0.6x + 2p = 85 where p is the price...
The price-demand equation for gasoline is 0.6x + 2p = 85 where p is the price per gallon in dollars and x is the daily demand measured in millions of gallons. A) Write the demand x as a function of price. x = Preview B) What is the demand if the price is $5 per gallon? x = millions of gallons Preview
69. Below is the market for avocados. Suppose the government establishes a price floor of S5...
69. Below is the market for avocados. Suppose the government establishes a price floor of S5 per avocado. This will create a. a surplus of 6,000 avocados b. a shortage of 6,000 avocados c. an equilibrium of 10,000 avocados sold d. an equilibrium of 13.000 avocados sold. ANS Price per avocado Supply Demand 7 10 13 (Quantity(thousands) Market for avocados 70. Belcho Corporation makes chemicals, and in doing so emits foul-smelling odors into the air. Assuming that residents in the...
The weekly demand function is given by p + x + 4xp = 42, where x...
The weekly demand function is given by p + x + 4xp = 42, where x is the number of thousands of units demanded weekly and p is in dollars. If the price p is increasing at a rate of 26 cents per week when the level of demand is 3000 units, which one of the following statements is true? O Demand is increasing at 260 units per week O Demand is decreasing at 280 units per week O Demand...
2. Consider again the avocado example, where demand and supply functions are Qd 160 40p Qs-50+15p...
2. Consider again the avocado example, where demand and supply functions are Qd 160 40p Qs-50+15p Suppose a severe drought hit California, and the state government decided to subsidize farmers 40 cents for each pound of avocados produced. (Unit: Q is million pounds of avocados, and p is dollars). (1) With government subsidy, write down the functions of demand and supply. (2) What is the new equilibrium price and quantity of avocados? (Rounding to two decimal places) (3) Plot the...
42. Demand Equation The price p and the quantity x sold of a certain product obey...
42. Demand Equation The price p and the quantity x sold of a certain product obey the demand equation x20p +500, 0sps 25 (a) Express the revenue R as a function of x. (b) What is the revenue if 20 units are sold? (c) What quantity x maximizes revenue? What is the maxi- mum revenue? (d) What price should the company charge to maximize rev- enue?
Let the demand for coal be Q = 100 - 10P + 20Y, where P is...
Let the demand for coal be Q = 100 - 10P + 20Y, where P is the price of coal and Y is income. Let the supply of coal be Q = 5P + 1G, where G is the price of natural gas from coalbed methane. Let G = 5 and Y = 20. What is the equilibrium price and quantity of coal? P = $30, Q = 200 P = $33, Q = 165 P = $35, Q =...
20. If the price charged for a candy bar is p(x) cents, the x thousand candy...
20. If the price charged for a candy bar is p(x) cents, the x thousand candy bar will be sold in a certain city, where P(x) = 6- 20 (a) Find an expression for the total revenue for the sale of x thousands candy bar: 20 (b) Find the value of x that leads to maximum revenues: 20 (©) The maximum revenue:
The estimated supply function for avocados is Q = 58 + 15p - 20pf, where p...
The estimated supply function for avocados is Q = 58 + 15p - 20pf, where p is the price of avocados and pf is the price of fertilizer. The price elasticity of supply, estimated at p = 4 and pf = 10, is approximately?
The estimated monthly U.S. demand function for avocados is
Q=144-40p+20pt, where p is the price of avocados and pt is the
price of tomatoes. The estimated supply function is Q=50+15p.The
initial price of tomatoes is $0.80 per pound. Using algebra,
determine the initial equilibrium price and quantity of avocados,
and then determine how price and quantity change if the price of
tomatoes increases by $1.15 to $1.95. Given pt=$0.80, the
initial equilibrium price of avocados is p=$?? and the initial...
How to get the bottom 2 questions
Suppose the demand function for avocados is -104-40p+20pt 0.01Y where p is the price of avocados, pt is the price of tomatoes, and Y is average income, and the supply function for avocados is Q-58 15p-20p, where pr is the price of fertilizer. Suppose pt SO.80, Y -$4,000, and pr $0.40. What is the equilibrium price and quantity of avocados? The equilibrium price of avocados is -$2 and the equilibrium quantity is Q80...
The price-demand equation for gasoline is 0.6x + 2p = 85 where p is the price per gallon in dollars and x is the daily demand measured in millions of gallons. A) Write the demand x as a function of price. x = Preview B) What is the demand if the price is $5 per gallon? x = millions of gallons Preview
69. Below is the market for avocados. Suppose the government establishes a price floor of S5 per avocado. This will create a. a surplus of 6,000 avocados b. a shortage of 6,000 avocados c. an equilibrium of 10,000 avocados sold d. an equilibrium of 13.000 avocados sold. ANS Price per avocado Supply Demand 7 10 13 (Quantity(thousands) Market for avocados 70. Belcho Corporation makes chemicals, and in doing so emits foul-smelling odors into the air. Assuming that residents in the...
The weekly demand function is given by p + x + 4xp = 42, where x is the number of thousands of units demanded weekly and p is in dollars. If the price p is increasing at a rate of 26 cents per week when the level of demand is 3000 units, which one of the following statements is true? O Demand is increasing at 260 units per week O Demand is decreasing at 280 units per week O Demand...
2. Consider again the avocado example, where demand and supply functions are Qd 160 40p Qs-50+15p Suppose a severe drought hit California, and the state government decided to subsidize farmers 40 cents for each pound of avocados produced. (Unit: Q is million pounds of avocados, and p is dollars). (1) With government subsidy, write down the functions of demand and supply. (2) What is the new equilibrium price and quantity of avocados? (Rounding to two decimal places) (3) Plot the...
42. Demand Equation The price p and the quantity x sold of a certain product obey the demand equation x20p +500, 0sps 25 (a) Express the revenue R as a function of x. (b) What is the revenue if 20 units are sold? (c) What quantity x maximizes revenue? What is the maxi- mum revenue? (d) What price should the company charge to maximize rev- enue?
20. If the price charged for a candy bar is p(x) cents, the x thousand candy bar will be sold in a certain city, where P(x) = 6- 20 (a) Find an expression for the total revenue for the sale of x thousands candy bar: 20 (b) Find the value of x that leads to maximum revenues: 20 (©) The maximum revenue:
Most questions answered within 3 hours.
-
1. When a nearsighted person looks at an object that is in the
distance with their...
asked 59 minutes ago -
QUESTION 8
Both of these statements will store the same value in the
variable $number
$number...
asked 1 hour ago -
The price of 1 lb of potatoes is $1.75. If all the potatoes sold
today at...
asked 2 hours ago -
Garcia Company issues 20.00%, 15-year bonds with a par value of
$470,000 and semiannual interest payments....
asked 2 hours ago -
In C++ Programming, Try using loops only.
This lab demonstrates the use of the While Loop...
asked 3 hours ago -
Effect of DCMU and sodium azide on Chlamydomonas? We did an
experiment where we had Chlamydomonas...
asked 3 hours ago -
1a) According to the ideal gas law, _______________.
a. a gas has infinite volume at absolute...
asked 5 hours ago -
Oakdale Fashions, Inc. had $245,000 in 2018 taxable income.
Using the tax schedule in Table 2.3...
asked 5 hours ago -
The marketing class at CSUS had an average score of 150. An
educational analyst determined that...
asked 6 hours ago -
Justin Case has purchased a $250 000 home by putting 20 % down
and taking out...
asked 7 hours ago -
1. In a labor market, marginal cost for a firm is
____________.
a. recruiting cost
b....
asked 7 hours ago -
On January 1, 2019, ABC Company issued $60,000,000 of 20-year,
10.5% bonds when the market rate...
asked 8 hours ago