Question

The demand for a certain product is p = ­ 0.1x2 - 0.4x + 65, where...

The demand for a certain product is p = ­ 0.1x2 - 0.4x + 65, where x is the quantity demanded in thousands and p is the unit price in dollars.

a) What is the rate of change in price between a demand of 10,000 units to 20,000 units?

b) What is the rate of change in price at a demand of 15,000 units? Can you tell me is words what this means about the rate?

c) What is the rate of change in revenue at a demand of 5000 lamps? (Revenue =Price * Quantity)

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
The demand function for a certain brand of CD is given by p = −0.01x^2 −...
The demand function for a certain brand of CD is given by p = −0.01x^2 − 0.2x + 11 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. The supply function is given by p = 0.01x^2 + 0.4x + 3 where p is the unit wholesale price in dollars and x stands for the quantity that will be made available in the market by the...
Suppose the demand equation for a certain product is given by ?(?) = √(−2? + 300),...
Suppose the demand equation for a certain product is given by ?(?) = √(−2? + 300), where ? is the price ($) and ?(?) is the number of units demanded at that price. a. Find the equation for the elasticity equation. Use it to determine the elasticity of demand for a price of $50 and $100. Describe in words what these mean and tell if the demand is elastic, inelastic, or has unit elasticity. Tell for each what you would...
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 function for a certain brand of CD is given by p = −0.01x2 −...
The demand function for a certain brand of CD is given by p = −0.01x2 − 0.2x + 14 where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. The supply function is given by p = 0.01x2 + 0.7x + 3 where p is the unit price in dollars and x stands for the quantity that will be made available in the market by the supplier, measured...
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?
The demand function for a certain brand of CD is given by p = −0.01x2 −...
The demand function for a certain brand of CD is given by p = −0.01x2 − 0.1x + 36 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Determine the consumers' surplus if the market price is set at $6/disc. (Round your answer to two decimal places.)
The short term demand for a product can be approximated by q=D(p)=175(100−p2) where p represents the...
The short term demand for a product can be approximated by q=D(p)=175(100−p2) where p represents the price of the product, in dollars, and q is the quantity demanded. (a) Determine the elasticity function. E(p)= _______ equation editorEquation Editor (b) Use the elasticity of demand to find the price which maximizes revenue for this product p= ______ equation editorEquation Editor dollars. Round to two decimal places.
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?
Suppose the weekly demand for a certain good in thousands of units, is given by the...
Suppose the weekly demand for a certain good in thousands of units, is given by the equation P = 35 - Q, and the weekly supply curve of the good by the equation P = 15 + Q where P is the price in dollars. Finally, suppose a per-unit tax of $6, to be collected from sellers is imposed in this market. Complete the following questions. Note: If necessary round your answers to two decimal places. a) Graph the weekly...
The demand function for a Christmas music CD is given by q=0.25(225−p^2) where q (measured in...
The demand function for a Christmas music CD is given by q=0.25(225−p^2) where q (measured in units of a hundred) is the quantity demanded per week and pp is the unit price in dollars. (a) Evaluate the elasticity at p=10. E(10)= (b) Should the unit price be lowered slightly from 10 in order to increase revenue?     yes    no    (c) When is the demand unit elastic?  p=______dollars (d) Find the maximum revenue. Maximum revenue =________ hundreds of dollars
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT