Question

The demand for a certain product is Q(x,y) = 200 − 5x2 + 13xy units per...

The demand for a certain product is Q(x,y) = 200 − 5x2 + 13xy units per month, where x is the price of the product and y is the price of a competing product. It is estimated that t months from now, the price of the product will be x(t)= 10 + 0.3t dollars per unit while the price of the competing product will be y(t) = 12.8 + 0.2t2 dollars per unit. At what rate will the demand for the product be changing with respect to time 4 months from now? (Round your answer to the nearest integer).

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
The demand for a certain commodity is D(x)  =  8000e−.08x units per month when the market...
The demand for a certain commodity is D(x)  =  8000e−.08x units per month when the market price is x dollars per unit. (a) At what rate is the consumer expenditure E(x) = xD(x) changing with respect to price x when the price is equal to $180 dollars? (b) At what price does consumer expenditure stop increasing and begin to decrease? (c) At what price does the rate of consumer expenditure begin to increase?
The demand function for a certain product is p = 3000, where q is the quantity...
The demand function for a certain product is p = 3000, where q is the quantity of the product produced and q sold while p is the unit price when q units are produced. Find the point elasticity of demand when q = 300. Is the demand elastic, inelastic, or unit elastic when q = 300?
The short term demand for a product can be approximated by q=D(p) = 200(300−p^2)where p represents...
The short term demand for a product can be approximated by q=D(p) = 200(300−p^2)where p represents the price of the product, in dollars per unit, and q is the quantity of units demanded. (a) Determine the elasticity function E(p). (b) Use the elasticity of demand to find the price which maximizes revenue for this product.
The demand for q units of a product depends on the price p (in dollars) according...
The demand for q units of a product depends on the price p (in dollars) according to q = 768 p − 1,  for p > 0. Find and explain the meaning of the instantaneous rate of change of demand with respect to price when the price is as follows. (a) $16 Interpret the instantaneous rate of change. If price increases by the absolute value of this amount, the demand will drop by 1 unit. If price decreases by the absolute...
The weekly demand function for x units of a product sold by only one firm is...
The weekly demand function for x units of a product sold by only one firm is p = 300 − 1 2 x dollars, and the average cost of production and sale is C = 200 + 2x dollars. (a) Find the quantity that will maximize profit. units (b) Find the selling price at this optimal quantity. $  per unit (c) What is the maximum profit?
Beta Company produced 2,000 units of product X and 800 units of product Y. Product X...
Beta Company produced 2,000 units of product X and 800 units of product Y. Product X uses $3 of direct materials per unit and $20 of direct labor per unit. Product Y uses $5 of direct materials per unit and $30 of direct labor per unit. Total indirect overhead costs were $32,000, allocated based on direct labor dollars. What are the allocated overhead costs for X and Y?
3) For a certain good we have  q = f ( p ) = 200 e −...
3) For a certain good we have  q = f ( p ) = 200 e − 0.4 p. a) Find the elasticity of demand at price p = $50. b) At p = $50, is the demand elastic, inelastic, or does it have unit elasticity? Explain what this means for this product. c) Find the elasticity of demand at price p = $20. d) At p = $20, is the demand elastic, inelastic, or does it have unit elasticity? Explain...
Beta Ltd makes two products, X and Y. Unfortunately, although the market demand for both products...
Beta Ltd makes two products, X and Y. Unfortunately, although the market demand for both products is very high, the firm is unable to fully satisfy this demand for both products due to constraints in the availability of both machine capacity and skilled labor hours. Product X requires 20 hours of machine time and 30 hours of skilled labor time. Product Y requires 10 hours of machine time and 20 hours of skilled labor time. The selling price is $200...
Suppose that the price p (in dollars) of a product is given by the demand function...
Suppose that the price p (in dollars) of a product is given by the demand function p = (18,000 − 60x) / (400 − x) where x represents the quantity demanded and x < 300. f the daily demand is decreasing at a rate of 100 units per day, at what rate (in dollars per day) is the price changing when the price per unit is $30?
II. Solve the following problems a. The supply and demand equations for a certain product are:...
II. Solve the following problems a. The supply and demand equations for a certain product are: 3q - 200p + 1800= 0 3q + 100p - 1800= 0 Respectively, where p represents the price per unit in dollars and q the number of units sold per period. Find the equilibrium price. b. A manufacturer of children’s toys will break even at a sales volume of $200,000. Fixed costs are $40,000 and each unit of production sells for $5. Determine the...