3. A manufacturer that produces a computer headset sells 400 units when the unit price is Php1,200. It has determined that with a Php80 reduction in the unit price, 120 more headsets will be sold. Find the demand function assuming that it is linear.
Q: p of answer choices Both A and B
A: Tax revenue is what the government collects from all sources of services. If the tax rate is…
Q: Question 4 Discuss the…
A: Customers' demand is the significant component that incentivizes the firms to produce and gives them…
Q: 6. Classify the following good as either: (1) private good, (2) club good, (3) common resource, (4)…
A: Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: Consider the following simultaneous game: Player 1 U D Player 2 L 30,20 -10, -10 R -10, -10 20,30…
A: Nash equilibrium is where the two player plays their best response and get to a decision. Dominant…
Q: Price adjust until quantity demanded equals quantity supplied.
A: Competitive market- It refers to to a market where many buyers and sellers meet and they have…
Q: 9. In the IS model, aggregate consumption is given by C = ā¿Ỹ + x(Y− Ỹ) where x denotes the marginal…
A: Consumption function is given as C = acY + x(Y-Y)Where x denotes to MPC
Q: Suppose we have the following Lagrangian for cost minimization: L = wL + rK + λ(q-ALB K¹-B) Where L,…
A:
Q: Landia production possibilities: Fish Chips B с Fish 8 6 Chips 0 10 Scandia production…
A: Comparative advantage is the ability of the country or individual to produce the good at a lower…
Q: The table below shows cash flow estimates for a project. The B/C ratio for the following cash flow…
A: The benefit-cost ratio is calculated as B/C ratio= PW of Benefits-PW of disbenefitsFC+PW of M&O…
Q: Suppose you borrow $3,000 at 6.75% interest for 8 months. What is the maturity value?
A: Present value is the value of investment in today's dollar. Future value/ Maturity value is the…
Q: The kinked demand curve is a non-colluding oligopoly. Explain
A: An oligopoly refers to a form of a market characterized by a lesser number of firms who realize they…
Q: Type your homework assignments. Show necessary reasoning and calculations that lead to your answers.…
A:
Q: In the second half of 2021, Congress passed and President Biden signed into law a $1 trillion…
A: The aggregate supply and aggregate demand model is the one in which the equilibrium level of output…
Q: What is the accumulated amount of a 10-year annuity paying ₱ 10,000 at the end of each year, with…
A: Given Annuity A=10,000 Time interval (n) =10 years Rate of interest (i)=15% Required: Future value…
Q: When the government sector is included in the income-expenditure model, the equation for aggregate…
A: Aggregate demand is the sum of all individual demand and expenditures. Aggregate income includes…
Q: When a long-term operational asset is sold at a gain, how is the balance sheet affected? Is the…
A: As opposed to current assets, which are kept for less than a year, long-term operating assets are…
Q: Annual maintenance cost for a machine is ₱25,000 for 6 years. Interest rate is 6%. If the…
A: Given Annual maintenance (A1 )=25000 Rate of interest =6% The maintenance cost increase by 10% each…
Q: When long-run average cost is decreasing, it can pay to operat smaller plants at their peak…
A: Average cost, often known as unit cost, in economics is calculated by dividing the total cost (TC)…
Q: We are given the following information for UWI Land. At the start of the period, there are 334,250…
A: Given, Number of Employed = 334,250 Number of Unemployed = 15,750 Not in Labor Force = 150,000…
Q: 14. The figure shows the supply and demand for labor in the textile industry. In each of the…
A: Equilibrium in labor market is where the labor demand curve equals the labor supply curve. The…
Q: Megan and Martha own competing hair salons that are in the same neighborhood. They are both…
A: Nash equilibrium is where both player chooses their best response and the best response of both…
Q: Consider a fiscal expansion under a fixed exchange rate regime, where a revaluation (an increase in…
A: Robert Mundell and Fleming wrote the theorem when there was a fixed exchange rate system. The model…
Q: The following is an example of a "net seller" of good 1, when the price vector is (2,1): a. The…
A: A consumer's budget constraint is a crucial characteristic in the buying and selling process; the…
Q: According to the Figure below, since the 2008 recession short-run output, Ỹt, has been reached in…
A: Potential GDP refers to an estimation of the value of the output that an economy could have produced…
Q: Suppose the quantity demanded rises by 20 million pounds of coffee per month at each price. Draw the…
A: The demand curve can be used to gauge how eager consumers are to pay for a product. This consumer…
Q: Question 1 Which of the following shifts aggregate demand curve rightward? (A) A decrease in wealth.…
A: The total quantity of demand for all finished products and services generated in an economy is…
Q: In 2003 the price of oil increased, which in turn caused the price of natural gas to rise. This can…
A: Demand for one good is affected by the price of related good, complements and substitutes.
Q: Double counting can be avoided when computing GDP by
A: GDP is the gross domestic product. GDP can be defined as the value of all final goods and services…
Q: Which of the following increases the likelihood that a group of sellers can increase profits as the…
A: Collusion happens when two or more firms started cooperating to tackle challenges. The main motive…
Q: QUESTION 3 Assume the following: • Price 10 • Quantity = 20 • Explicit Cost = 50 • Implicit Cost =…
A: Economic Profit refers to the profit or revenue generated from the sale of any goods and services…
Q: Assume aggregate demand is represented by AD1 and full employment is $5.6 trillion. The equilibrium…
A: Full employment level output refers to the output that represents the natural state of economy or…
Q: A bank features a savings account that has an annual percentage rate of r = 2.9% with interest…
A: The yearly/ annual rate yield (APY) is the genuine pace of return procured on investment, producing…
Q: a) The owner of the firm expects to make a profit of K100 for each of the two years and be able to…
A: Profit maximization is the process by which businesses ensure that the best output and pricing…
Q: The economy of Bananaland can be characterized by Equation 9.3. EQUATION 9.3:…
A: Consumption function includes autonomous consumption and consumption dependent on Income of…
Q: For this question, assume that indifference curves are strictly convex, consumption and leisure are…
A: Worker has to decide between the work and leisure. A rise in wage affects such selection of worker.…
Q: discuss secular seasonal and cyclical variations within economic data be sure to indicate how each…
A: Economic data can be collected for a single time period or over a series of time periods. The data…
Q: QUESTION 8 An increase in output that arises from an additional unit of input is a. increased…
A: We know that, The change in output when one additional unit of input is called marginal product.
Q: Answer the next question(s) on the basis of the following consolidated balance sheet for the…
A: Given that, The required reserve ratio = 10% Excess reserves can be calculated as , Excess…
Q: Suppose the government imposes an average pricing rule, requiring the monopolist to set its price…
A: The additional revenue which the firm receive by selling an extra unit of good is marginal revenue…
Q: Interest rate 2% 4 6 8 10 Transaction demand for money $220 220 220 220 220 Asset demand for money…
A: Demand for money shows how much money people are willing to hold to buy goods and services.
Q: The ideas of the Mercantilists are alive today. Which of these would a modern day Mercantilist agree…
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Soft selling occurs when a buyer is skeptical of the usefulness of a product and the seller offers…
A: The expected value is explained as the difference between expected profits and expected expenses.…
Q: What is the APY for 5.5% compounded semiannually?
A: Given Nominal rate =5.5 compounded semiannually Required: APY (annual percentage yield) Formula:…
Q: MalMax purchased a depreciable asset. What would be the difference in total assets at the end of the…
A: Depreciation is the decrease in value of any asset due to normal wear and tear. Straight line…
Q: Assume the following: Explicit Cost = 50 implicit Cost = 25 What does Total Cost equal? O a. 25 b.…
A: Total cost is the sum of explicit cost and implicit cost. Explicit cost is the direct expenses or…
Q: On the day his grandson was born, a man deposited to a trust company a sufficient amount of money so…
A: Grandson will be receiving an amount of P 10,000 for 5 years starting after the 18th birthday. To…
Q: 1. Refer to Table 9.1. At an output level of $800 billion, the level of aggregate expenditure is…
A: The present market value of all the finished goods and services in the economy is known as aggregate…
Q: QUESTION 1 Assume the following: • Price = 10 • Quantity = 20 What does Total Revenue equal? a. 10…
A: Price = 10 Quantity = 20 We have to find Total revenue can be calculated as, Total revenue = price…
Q: a. Specify the first order condition for the firm's profit maximization problem. b. Suppose there is…
A: Firms in a perfectly competitive market are price takers. And, all firms sell homogeneous goods.…
Q: Which of the following alternatives is typical in a monopolistic market? a.all of before mentioned…
A: The monopolistic market is an imperfectly competitive market where only one firm may offer goods and…
Step by step
Solved in 2 steps with 2 images
- The demand function for a product is p= 45 5-9/10) where q is the number of units and p is the price of one unit. At what price will the demand be 5 units? How many units will be demanded if the price is $12.42?The Vista TV Cable Co. currently has 100,000 subscribers who are each paying a monthly rate of $40. A survey reveals that there will be 1000 more subscribers for each $0.25 decrease in the rate. At what rate will maximum revenue be obtained, and how many subscribers will there be at this rate?Revenue The Better Baby Buggy Co. has just come out with a new model, the Turbo. The market research department predicts that the demand equation for Turbos is given by q = -3p + 312, where 9 is the number of buggies the company can sell in a month if the price is $p per buggy. At what price (in dollars) should it sell the buggies to get the largest revenue? p = $ What is the largest monthly revenue (in dollars)? $
- The demand equation for a certain brand of pencil is 100y? + 9t2 = 3600 where (y) represents the number (in thousands) of ten-packs demanded each week when the unit price is $(t). How fast is the quantity demanded increasing when the unit price per ten-pack is $14 and the selling price is dropping at the rate of $0.15 per ten-pack per week?The demand function for a certain product is determined by the fact that the product of the price and the quantity demanded equals 7000. The product currently sells for $3.10 per unit. Suppose manufacturing costs are increasing over time at a rate of 17% and the company plans to increase the price p at this rate as well. Find the rate of change of demand over time. Find the demand function represented in this problem where p is the price of the product and q is the quantity demanded for the product. (Type an equation.)The supply function for a product is given by p = 40 + 100V2x + 4, where x is the number of units supplied and p is the price in dollars. If the price is increasing at a rate of $1 per month, at what rate (units/month) is the supply changing when the price per unit is $840? units/month
- Q2 The manufacturer of a low-sugar bottled juice estimated the following demand equation for its product using data from 25 retail stores around Dover city for the month of November: Q=-2000-15 Pje+ 8.4Px + 0.51 + 0.4A (220) (5.0) (5.6) (0.2) (0.16) R²=0.57 n=25 F = 6.83 Assume the following values for the independent variables: Standard error 1 Q denotes quantity sold per month Pje (denotes price of the bottled juice) = 240 (in cents) P. (denotes price of leading competitor's product) - 300 (in cents) I (denotes per capita income of the standard residential district in which the retail store is located) = 4000 (in dollars) A (denotes monthly advertising expenditure) = 7700 (in dollars) Using this information, answer the following questions: a. Compute elasticities for each variable.. b. Do you think that this firm should cut its price to increase its market share?the demand for boneless chicken breast, in dollars per pound, is given by q=-0.7p+5, where p represents the price per pound and q represents the average number of pounds purchased per week per customer. Determine the price at which the demand for boneless chicken breast is unit elastc.Q2 The manufacturer of a low-sugar bottled juice estimated the following demand equation for its product using data from 25 retail stores around Dover city for the month of November: Q=-2000-15 Pje+ 8.4Px + 0.51 + 0.4A (220) (5.0) (5.6) (0.2) (0.16) R²=0.57 n=25 F = 6.83 Assume the following values for the independent variables: Standard error 1 Q denotes quantity sold per month Pje (denotes price of the bottled juice) = 240 (in cents) P. (denotes price of leading competitor's product) - 300 (in cents) I (denotes per capita income of the standard residential district in which the retail store is located) = 4000 (in dollars) A (denotes monthly advertising expenditure) = 7700 (in dollars) Using this information, answer the following questions: a. Compute elasticities for each variable.. b. Do you think that this firm should cut its price to increase its market share? Explain..
- Hasbro conducted market research to determine the optimal price to set for their Furby toys. Through many focus groups, they determined they could sell 5,000 furbies at a price of $29.99. However, if they lowered their price to $19.99, they could sell 4,000 more furbies. Find the linear demand equation (price function, y) as a function of the quantity, x, sold. (round to 4 decimal places if necessary)the demand function is: P = 60 – Q Find an expression for TR in terms of Q. (1) Differentiate TR with respect to Q to find a general expression for MR in terms of Q. Hence, write down the exact value of MR at Q = 50. (2) Calculate the value of TR when a. Q = 50 b. Q = 51 And hence confirm that the 1 unit increase approach gives a reasonable approximation to the exact value of MR obtained in part (1).A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as Price = 160 -0.02 × Demand for an annual printing of this particular product. The fixed costs per year (i.e., per printing) = $51,000 and the variable cost per unit = $35. What is the maximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not expected to be more than 4,000 units per year. The maximum profit that can be achieved is $144,313. (Round to the nearest dollar.) The unit price at the point of optimal demand is $ per unit. (Round to the nearest cent.)