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 = 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

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

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 = 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
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 = 12 + 5q, what tax per item will maximize the total revenue?
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
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