Question

In this problem, p is the price per unit in dollars and q is the number...

In this problem, p is the price per unit in dollars and q is the number of units.

If the demand and supply functions of a product are

p = 5000 − 20q − 0.7q2 and p = 500 + 10q + 0.3q2,

respectively, find the tax per unit t that will maximize the tax revenue T.

T= $/Item

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
In this problem, p is the price per unit in dollars and q is the number...
In this problem, p is the price per unit in dollars and q is the number of units. If the demand and supply functions of a product are p = 6500 − 5q − 0.7q2 and p = 500 + 10q + 0.3q2, respectively, find the tax per unit t that will maximize the tax revenue T. t = $ /item
In this problem, p is the price per unit in dollars and q is the number...
In this problem, p is the price per unit in dollars and q is the number of units. If the demand and supply functions for a product are p = 840 ? 2q and p = 100 + 0.5q, respectively, find the tax per unit t that will maximize the tax revenue T.
In this problem, p is the price per unit in dollars and q is the number...
In this problem, p is the price per unit in dollars and q is the number of units. If the weekly demand function is p = 120 − q and the supply function before taxation is p = 8 + 6q, what tax per item will maximize the total revenue? $____ /item
In this problem, p is the price per unit in dollars and q is the number...
In this problem, p is the price per unit in dollars and q is the number of units. If the weekly demand function is p = 120 − q and the supply function before taxation is p = 12 + 5q, what tax per item will maximize the total revenue?
p is the price per unit in dollars and q is the number of units. If...
p is the price per unit in dollars and q is the number of units. If the weekly demand function is p=200-2q^2 and the supply function before taxation is p=20+3q, what tax per item will maximize the total tax revenue?
The price per unit of a product is p dollars and the number of units of...
The price per unit of a product is p dollars and the number of units of the product is denoted by q. The supply function for a product is given by (20,000/q)+15, and the demand for the productis given by p=(120+q)/4. Is the supply function a linear function or a shifted reciprocal function? Is the demand function a shifted linear function or a shifted reciprocal function?
In this problem, p, price, is in dollars and x is the number of units. The...
In this problem, p, price, is in dollars and x is the number of units. The demand function for a product is p = 206 − x2. If the equilibrium price is $10 per unit, what is the consumer's surplus? (Round your answer to two decimal places.) In this problem, p is in dollars and x is the number of units. The demand function for a certain product is p = 81 − x2 and the supply function is p...
Suppose the demand and supply functions for a product are P= 2800-8q-1/3q^2 and p = 400+2q,...
Suppose the demand and supply functions for a product are P= 2800-8q-1/3q^2 and p = 400+2q, respectively, where p is in dollars and q is the number of units. Find q that will maximize the tax revenue
1. In this problem, p and C are in dollars and x is the number of...
1. In this problem, p and C are in dollars and x is the number of units. A monopoly has a total cost function C = 1000 + 216x + 0x2 for its product, which has demand function p = 648 ? 3x ? 2x2. Find the consumer's surplus at the point where the monopoly has maximum profit. (Round your answer to the nearest cent.) 2. In this problem, p is in dollars and x is the number of units....
The short term demand for a product can be approximated by q = D(p) = 18...
The short term demand for a product can be approximated by q = D(p) = 18 − 2 √p where p represents the price of the product, in dollars per unit, and q is the number of units demanded. Determine the elasticity function. Use the elasticity of demand to determine if the current price of $50 should be raised or lowered to maximize total revenue.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT