Question

The demand equation for a certain cell phone is given by ? = −.001?2 + 250...

The demand equation for a certain cell phone is given by

? = −.001?2 + 250

where p is the price of per phone (in dollars) and q is the number of phones that can be sold at this price. The supply function is given by

? = 0.0006?2 + 0.02? + 100

dollars per camera.
Find the equilibrium price and use it calculate the producers and at the equilibrium price level.

?? = ?̅?̅ − ∫ ?(?)??

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...
1) The demand and supply functions for a certain product are given by p = 150...
1) The demand and supply functions for a certain product are given by p = 150 − 0.5 q and p = 0.002 q^ 2 + 1.5 where p is in dollars and q is the number of items. a) Which is the demand function? Why do you know? b) Find the equilibrium price and quantity. c) Find the total gains from trade at the equilibrium price.
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...
Consider a market for cell phones. The demand and supply are defined by P = 400...
Consider a market for cell phones. The demand and supply are defined by P = 400 -10 q, and P = 100 + 2q Suppose now that the government requires each seller to pay a 60 tax for each cell phone. Compute the change in consumer surplus, change in producer surplus, the tax revenue, and the deadweight loss in the new equilibrium. Suppose now that the government does not tax the seller, but instead the buyer to pay a $60...
If the demand equation for a certain commodity is given by the equation: 550p + q...
If the demand equation for a certain commodity is given by the equation: 550p + q = 86,000 where p is the price per unit; at what price is there unitary elasticity? Round your answer off to two decimal places. p =_____________?
2. The following are the equations for demand and supply of lemons in N. Cyprus during...
2. The following are the equations for demand and supply of lemons in N. Cyprus during the month of June 2020. The quantity is in terms of tons per month and the price in TL per kilo of lemons. Q = 800 – 40P Q = 400 + 10 P The equilibrium price is where demand and supply meet: 800 – 40P = 400 + 10P 800 – 400 = 50P 50P = 400 P = 400/50 = 8 Q...
Suppose the supply and demand for a certain textbook are given by ​supply: P=(1/2)q ^2 and...
Suppose the supply and demand for a certain textbook are given by ​supply: P=(1/2)q ^2 and demand P=(-1/2)q^2+30 where p is the price and q is the quantity. Find the demand quantity and the supply quantity at a price of ​$25 1)The number of books that are demanded at a price of $25 is........ and the number of books supplied at a price of ​$25 is...... ​(Round to the nearest whole number as​ needed.)
A study of a country's colleges and universities resulted in the demand equation q = 20,000...
A study of a country's colleges and universities resulted in the demand equation q = 20,000 − 2p, where q is the enrollment at a public college or university and p is the average annual tuition (plus fees) it charges.† Officials at Enormous State University have developed a policy whereby the number of students it will accept per year at a tuition level of p dollars is given by q = 8,000 + 0.5p. Find the equilibrium tuition price p...
1) For a company the demand equation is given by p = 100 - 0.025x, where...
1) For a company the demand equation is given by p = 100 - 0.025x, where p represents the price per unit when x quantity of units is sold. Determine the marginal revenue when 2,500 units are sold, that is, R ’(2,500) and interpret the result. 2) The total weekly cost in dollars for manufacturing x calculators in a company is given by the function C (x) = 10x + 2,500. Determine the marginal average cost function.
The demand for an economics textbook is given by: P = 250 –Q, where P is...
The demand for an economics textbook is given by: P = 250 –Q, where P is the price in dollars of a textbook and Q is the quantity demanded of textbooks (per week). Use the point price elasticityofdemandformulatocalculate: [Showyourworkinallpartsofthisquestion] The price elasticity of demand at a price of $50 per textbook [3points] The price elasticity of demand at a price of $150 per textbook [3points] If the goal of the seller were to increase total sales revenue, would you recommend...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT