Assume you are given the following equation (Y = 80-20X). The Y value represents Price while...
- Assume you are given the following equation (Y = 80-20X). The Y
value represents Price while X value represents Quantity demanded
for books.
- In the space below, neatly calculate the values of X when Y are 15, 10, 5, and 0. Work must be shown.
-
Next, with the four data points calculated, neatly construct a graph below by drawing and labeling both axes (Price and Quantity Demanded). Now plot the four coordinates you have calculated from questions 2.a. to draw a line.
-
With the same equation, what is the value of the slope and explain what does this number mean in terms of price and quantity demanded. Explain thoroughly. You must use the value to (slope value) to precisely explain.
Homework Answers
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Assume you are given the following equation (Y = 80-20X). The Y
value represents Price while...
7. Consider the following sample regression equation = 150 – 20x, where y is the demand...
7. Consider the following sample regression equation = 150 – 20x, where y is the demand for Product A (in thousands) and x is the price of the product A (in $). a) What is the value of the correlation coefficient when the R2 value for the above equation is 0.65? b) What kind of relationship is there between y and x? Describe the strength and direction. c) Estimate the demand for Product A when the price is $5? d)...
A) Assume a linear relationship between the variables Y and X , and that Y is...
A) Assume a linear relationship between the variables Y and X , and that Y is the variable measured on the vertical axis while X is the variable measured on the horizontal axis. A straight line describing this relationship has a y-axis intercept of 10 and a slope of -1.25. What is the equation for this line? B) Is the relationship between Y and X positive or negative? How can you tell just by looking at this equation? C) Use...
a) Find the exact value of the slope of the line which is tangent to the curve given by the equation r = 2 + cos θ at...
a) Find the exact value of the slope of the line which is
tangent to the curve given by the equation
r = 2 + cos θ at
. You must show your work.
b) Set up, but do not evaluate, the integral that represents the
length of the curve given by
x = t - t2,
, over the interval 1 ≤ t ≤ 2.
D 4,3/2 y=7
D
4,3/2 y=7
please answer all the following Lesson 1.4-Specialization and Trade Tony can produce any of the following...
please answer all the following
Lesson 1.4-Specialization and Trade Tony can produce any of the following combinations of goods X and Y (a) 100 X and O Y, (b) 50 X and 25 Y, and (c) OX and 50 Y. Darlene can produce any of the following combinations of goods X and Y (a) 50 X and O Y, (b) 25 X and 40 Y, and (c) O X and 80 Y. Who has the comparative advantage in the production...
Please help asap!! 3. Einding equation of a demand curve: a) Use x-axis to represent the...
Please help asap!!
3. Einding equation of a demand curve: a) Use x-axis to represent the quantity demanded (Q), and y-axis to represent the price (P) of ice cream. Rewrite the table above indicating each ordered pair. Then use it to obtain a scattered plot of Q vs P. Describe the trend of demand as a function of price. The price of ice- cream in dollar (P) The quan Ly Pi Rate of change of demanded of ice cream(Q) 0.00...
1.Use the table below to answer the following question. Assume that the price of product A...
1.Use the table below to answer the following question. Assume that the price of product A is $4.47 while the price for product B is $5.79. The buyer has a budget of $50. Q MUA MUB 1 22 25 2 21 24 3 20 23 4 19 22 5 18 21 6 17 20 7 16 19 8 15 18 9 14 17 10 13 16 Given the marginal utilities The optimal bundle is ____. A. 6 of product A...
Please help asap!! 5. Just as demand depends on the price of a good, the quantity supplied is also closely relat...
Please help asap!!
5. Just as demand depends on the price of a good, the quantity supplied is also closely related to the price. The following table, called as the supply schedule, describes the amount of ice creams that the seller, Ben, provides depending upon its price. 10. a) Complete the table. The price of ice cream in the amount of ice creamy dollar Pory provided (O ) 100 150 2.00 2.50 b) Identify independent and dependent variables? What trend...
c) The demand function for books in Pick n Pay is given by P quantity demanded and P is the price per book. 50-0.3Q, where Q is the i. Find the number of books that will be bought when the price is K...
c) The demand function for books in Pick n Pay is given by P quantity demanded and P is the price per book. 50-0.3Q, where Q is the i. Find the number of books that will be bought when the price is K2. ii. iii. Find the price elasticity of the demand when the number of books bought is 30. ] Calculate the percentage change in quantity demanded when the price increases by 10% (use the coefficient price elasticity of...
***PLEASE DO ALL THIS IS MY LAST QUESTION OF THE GIVEN AMOUNT OF QUESTIONS :( *** Which value of r indicates a stronger correlation:r 0.751 orr0.896? Explain your reasoning Choose the correct answer...
***PLEASE DO ALL THIS IS MY LAST QUESTION OF THE GIVEN AMOUNT OF
QUESTIONS :( ***
Which value of r indicates a stronger correlation:r 0.751 orr0.896? Explain your reasoning Choose the correct answer below. A. r=-0.896 represents a stronger correlation because 0.751 >-0.896. B. r=0.751 represents a stronger correlation because l-08961-10.751. C· r--0 896 represents a stronger correlation because 1-0 8961-10751. D. 0.751 represents a stronger correlation because 0.751> -0.896. The budget (in millions of dollars) and worldwide gross (in...
Two-Part Pricing Problem You can get a maximum of two-percentage points added to your test average...
Two-Part Pricing Problem You can get a maximum of two-percentage points added to your test average without using calculus. Use your knowledge about price-searching firms and two-part pricing to advise the company below. The company has a bar and is trying to decide on the cover charge (if any) and price for each drink. It has done a modest survey to ask customers to classify themselves as light drinkers or heavy drinkers and to indicate the number of drinks they...
a) Find the exact value of the slope of the line which is
tangent to the curve given by the equation
r = 2 + cos θ at
. You must show your work.
b) Set up, but do not evaluate, the integral that represents the
length of the curve given by
x = t - t2,
, over the interval 1 ≤ t ≤ 2.
D 4,3/2 y=7
D
4,3/2 y=7
please answer all the following
Lesson 1.4-Specialization and Trade Tony can produce any of the following combinations of goods X and Y (a) 100 X and O Y, (b) 50 X and 25 Y, and (c) OX and 50 Y. Darlene can produce any of the following combinations of goods X and Y (a) 50 X and O Y, (b) 25 X and 40 Y, and (c) O X and 80 Y. Who has the comparative advantage in the production...
Please help asap!!
3. Einding equation of a demand curve: a) Use x-axis to represent the quantity demanded (Q), and y-axis to represent the price (P) of ice cream. Rewrite the table above indicating each ordered pair. Then use it to obtain a scattered plot of Q vs P. Describe the trend of demand as a function of price. The price of ice- cream in dollar (P) The quan Ly Pi Rate of change of demanded of ice cream(Q) 0.00...
Please help asap!!
5. Just as demand depends on the price of a good, the quantity supplied is also closely related to the price. The following table, called as the supply schedule, describes the amount of ice creams that the seller, Ben, provides depending upon its price. 10. a) Complete the table. The price of ice cream in the amount of ice creamy dollar Pory provided (O ) 100 150 2.00 2.50 b) Identify independent and dependent variables? What trend...
c) The demand function for books in Pick n Pay is given by P quantity demanded and P is the price per book. 50-0.3Q, where Q is the i. Find the number of books that will be bought when the price is K2. ii. iii. Find the price elasticity of the demand when the number of books bought is 30. ] Calculate the percentage change in quantity demanded when the price increases by 10% (use the coefficient price elasticity of...
***PLEASE DO ALL THIS IS MY LAST QUESTION OF THE GIVEN AMOUNT OF
QUESTIONS :( ***
Which value of r indicates a stronger correlation:r 0.751 orr0.896? Explain your reasoning Choose the correct answer below. A. r=-0.896 represents a stronger correlation because 0.751 >-0.896. B. r=0.751 represents a stronger correlation because l-08961-10.751. C· r--0 896 represents a stronger correlation because 1-0 8961-10751. D. 0.751 represents a stronger correlation because 0.751> -0.896. The budget (in millions of dollars) and worldwide gross (in...
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