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Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 112...
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 132...
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 132 units of their portable media player each week when the price is set at $62.40 per unit. At a unit price of $7.80, consumers are willing to buy 405 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. p = (b) Determine the weekly revenue function. R(x) = (C) Determine the number...
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 133...
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 133 units of their portable media player each week when the price is set at $46.20 per unit. At a unit price of $11.80, consumers are willing to buy 305 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. p (b) Determine the weekly revenue function. R(x) (c) Determine the number of units...
7. When the iPinch is priced at $68.95, sales will be 20,000 units/week. Market research has...
7. When the iPinch is priced at $68.95, sales will be 20,000 units/week. Market research has found that for each decrease in price of $1/unit, sales should increase by 400 units/week. This product costs $14.00/unit to make and that plant has weekly overhead costs of $12,500. Let x represent the number of units produced and then sold each week. a) Develop the linear demand function. b) Develop the revenue function.[ Note that Revenue = Price per item * Number of...
1. The marketing research department of a computer company used a large city to test market...
1. The marketing research department of a computer company used a large city to test market the firm's new laptop. The department found that the relationship between price p (dollars per unit) and the demand x (units per week) was given approximately by p = 1,296 – 0.12x2 0 < x < 80) So, weekly revenue can be approximated by R(x) = xp = 1,296x – 0.12x3 a) Find all critical numbers of the function, then use the second-derivative test...
The management of the Titan Tire Company has determined that the quantity demanded x of their Sup...
The management of the Titan Tire Company has determined that the quantity demanded x of their Super Titan tires/week is related to the unit price p by the relation p-172-x where p is measured in dollars and x is measured in units of a thousand. Titan will make x units of the tires available in the market if the unit price is p- 76+3 dollars. Determine the consumers surplus and the producers' surplus when the market unit price is set...
The management of the Titan Tire Company has determined
The management of the Titan Tire Company has determined that the quantity demanded x of their Super Titan tires/week is related to the unit price p by the relation p = 164-x2 where p is measured in dollars and x is measured in units of a thousand. Titan will make x units of the tires available in the market if the unit price is p = 68+1/2x2 dollars. Determine the consumers' surplus and the producers' surplus when the market unit price is set at...
plz answer a b c The market research department of the Better Baby Buggy Co. predicts that the demand equation...
plz answer a b c
The market research department of the Better Baby Buggy Co. predicts that the demand equation for its buggies is given by q-2.5p+500, where q is the number of buggies it can sell in a month if the price is Sp per buggy. At what price should it sell the buggies to get the largest revenue What is the largest monthly revenue? Practce Tek to a Tuer l Read Need Help? Two fraternities, Sig Ep and...
1. A company has determined that if the price of an item is $40, then 150...
1. A company has determined that if the price of an item is $ 40, then 150 will be demanded by consumers. When the price is $ 45, then 100 items are demanded by consumers(a) Find the price-demand equation, assuming that it is linear. ( 2 marks)(b) Find the revenue function. (1 mark)(c) Find the number of items sold that will give the maximum revenue. What is the maximum revenue? (4 marks)(d) What is the price of each item when...
Because the derivative of a function represents both the slope of the tangent to the curve...
Because the derivative of a function represents both the slope of the tangent to the curve and the instantaneous rate of change of the function, it is possible to use information about one to gain information about the other. Consider the graph of the function y = f(x) given in the figure. (a) Over what interval(s) (a) through (d) is the rate of change of f(x) positive? (Select all that apply.) OOOO (b) Over what interval(s) (a) through (d) is...
A commodity has a demand function modeled by p = 280 − 0.4x, and a total...
A commodity has a demand function modeled by p = 280 − 0.4x, and a total cost function modeled by C = 80x + 120, where x is the number of units. (a) What price yields a maximum profit? (b) Find the average cost per unit when x = 50 and x = 650. (c) Determine when the demand is elastic, inelastic, and of unit elasticity. (d) Use differentials to approximate the change in revenue as sales increase from 210...
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 132 units of their portable media player each week when the price is set at $62.40 per unit. At a unit price of $7.80, consumers are willing to buy 405 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. p = (b) Determine the weekly revenue function. R(x) = (C) Determine the number...
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 133 units of their portable media player each week when the price is set at $46.20 per unit. At a unit price of $11.80, consumers are willing to buy 305 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. p (b) Determine the weekly revenue function. R(x) (c) Determine the number of units...
7. When the iPinch is priced at $68.95, sales will be 20,000 units/week. Market research has found that for each decrease in price of $1/unit, sales should increase by 400 units/week. This product costs $14.00/unit to make and that plant has weekly overhead costs of $12,500. Let x represent the number of units produced and then sold each week. a) Develop the linear demand function. b) Develop the revenue function.[ Note that Revenue = Price per item * Number of...
1. The marketing research department of a computer company used a large city to test market the firm's new laptop. The department found that the relationship between price p (dollars per unit) and the demand x (units per week) was given approximately by p = 1,296 – 0.12x2 0 < x < 80) So, weekly revenue can be approximated by R(x) = xp = 1,296x – 0.12x3 a) Find all critical numbers of the function, then use the second-derivative test...
The management of the Titan Tire Company has determined that the quantity demanded x of their Super Titan tires/week is related to the unit price p by the relation p-172-x where p is measured in dollars and x is measured in units of a thousand. Titan will make x units of the tires available in the market if the unit price is p- 76+3 dollars. Determine the consumers surplus and the producers' surplus when the market unit price is set...
plz answer a b c
The market research department of the Better Baby Buggy Co. predicts that the demand equation for its buggies is given by q-2.5p+500, where q is the number of buggies it can sell in a month if the price is Sp per buggy. At what price should it sell the buggies to get the largest revenue What is the largest monthly revenue? Practce Tek to a Tuer l Read Need Help? Two fraternities, Sig Ep and...
Because the derivative of a function represents both the slope of the tangent to the curve and the instantaneous rate of change of the function, it is possible to use information about one to gain information about the other. Consider the graph of the function y = f(x) given in the figure. (a) Over what interval(s) (a) through (d) is the rate of change of f(x) positive? (Select all that apply.) OOOO (b) Over what interval(s) (a) through (d) is...
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