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- Given the demand functions, (iii) P = 45 (a) Write down the equations for TR. (b) Calculate the number of units which must be sold to maximize TR. Calculate the maximum TR. (c) State the values of Q at which MR and AR are zero.Please no written by hand the demand function for a manufacturer's product is p = f(g) = - 0.20g + 500, where p is the price (in dollars) per unit when q units are demanded (per day). Find the level of production that maximizes the manufacturer's total revenue and determine this revenue. what quantity will maximize the revenue. q = blank unitsOn the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $40, $60, $80, $100, $120, $140, and $160 per bike. 6250 5820 Total Revenue 5390 4960 4530 4100 3670 3240 2810 2380 20 40 60 80 100 120 140 160 180 200 220 240 PRICE (Dollars per bike) According to the midpoint method, the price elasticity of demand between points A and B is approximately Suppose the price of bikes is currently $80 per bike, shown as point A on the initial graph. Because the demand between points A and B is , a $20-per-bike decrease in price will lead to in total revenue per day. In general, in order for a price increase to cause an increase in total revenue, demand must be TOTAL REVENUE (Dollars)
- The demand function for SkanDisc 2GB thumb drives is given by p- 4(x + 3) e"/a where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Compute the price, p, when x 6. Do not round your answer. Price, p- 36e dollars Use implicit differentiation to compute the rate of change of demand with respect to price, p, when x- 6. Do not round your answer. Rate of change of demand, x' x thousands of units per dollar Compute the elasticity of demand when x - 6. Do not round your answer. Elasticity of Demand-The weekly sales of Honolulu red oranges is given by q=960-10p. (a)Calculate the price elasticity of demand when the price is $32 per orange.  (b) The demand is going down by ___% per 1% increase in price at the price level. (c) also, calculate the price that gives a maximum weekly revenue $____ (d) find this maximum Revenue $____The demand function for a crrtain product is giving by p=500+1000/(Q+1). where p is tje price and q is the number of units demand. Fimd the average price as demand ranges from 49 to 99
- Worldwide annual sales of smartphones over two year period were approximately q=-5p+3040 million phones at a selling price of $p per phone. (a) Obtain a formula for the price elasticity of demand E. E=_______ (b) in one of the years the actual selling price was $375 per phone. What was the corresponding price elasticity of demand? E=_______ The demand was going down by about _____% per 1% increase in price at that price level. (c) Use your formula for E to determine the selling price that would’ve resulted in the largest annual revenue. $_______ What would’ve been the resulting annual revenue? (Round your answer to two decimal places) $_____billionMead Plumbing currently sells thread seal tape at a price of $42.00 per roll. Their research department has derived the price-demand equation as p = 60 -0.02x where x is the number of tapes that can be sold at $p per roll of tape. (d) If the current price changes by 10%, what will be the approximate percentage change in demand? (e) Find the price at which a percentage change in price produces the same percentage change in demand.The demand curve for CO2 systems can be considered as a kinked demand curve. One analysis company has helped and they find that the kink occurs at around 15 plants sold at a price of DKK 4.4 million. DKK per plant. At a price increase based on the kink, the analysis company estimates the price elasticity to -2. Furthermore, the analysis company has found that at a price of DKK 0, it the requested quantity is 40 plants. Derive and draw the kinked demand function and the associated MR function based on the given data. If necessary, make other necessary assumptions yourself.
- I A consumer's Marshallian demand for y is given by gy(Pa, Py, I) = —— 3. The price of Py = good y is py 4 and the consumer's income is I = 15. What is ey,py, the consumer's own price elasticity of demand for y? (a) −15 (b) -5 (c) -5/12 (d) −1 (e) -15/16Worldwide annual sales of smartphones over a two year period were approximately q=-4p+3020 million phones at a selling price of $p per phone. (a) obtain a formula for the price elasticity of demand E E=_____ (b) in one of the years the actual selling price was $305 per phone. What was the corresponding price elasticity of demand? E=_____ (c) The demand was going down by about _____% per 1% increase in the price at that price level. (d) use your formula for E to determine the selling price that would have resulted in the largest annual revenue. $____ What would’ve been the resulting annual revenue? $____ billionGiven the demand functions, (ii) P = 80 − 2Q, (iii) P = 45 (a) Write down the equations for TR. (b) Calculate the number of units which must be sold to maximize TR. Calculate the maximum TR. (c) State the values of Q at which MR and AR are zero.