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- The demand function for SkanDisc 2GB thumb drives is given by p- 4(x + 3) e"/a where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Compute the price, p, when x 6. Do not round your answer. Price, p- 36e dollars Use implicit differentiation to compute the rate of change of demand with respect to price, p, when x- 6. Do not round your answer. Rate of change of demand, x' x thousands of units per dollar Compute the elasticity of demand when x - 6. Do not round your answer. Elasticity of Demand-In 2019, a ski resort increased the prices it charged for one-day ski passes and season passes. If someone buys a season pass, he can ski as many days as he wishes. The table below provides information on the prices and the number of passes sold in 2018 and 2019. Type of Pass One day Season Price in 2018 x 34000 $60 $1,200 Number of Passes Sold in 2018 5,000 250 Price in 2019 $80 $1,400 Given the information in the table, we know that the revenue earned from selling day passes changed by $ 52000 , and the revenue earned from selling season passes changed by $ Number of Passes Sold in 2019 3,100 190 From the answers to Part 1, we know that the demand for day passes is elastic demand for season passes is inelastic and theExplain the methods used toallocate the integratedmarketing communications(IMC) budget.
- Point on Demand Curve: A B C D E F G H I Price (P): $40 $35 $30 $25 $20 $15 $10 $5 $0 Quantity Demanded (QD): 0 5 10 15 20 25 30 35 40 (a) Based on this demand schedule, set up a graph (using excel) showing this demand curve and another graph showing the corresponding total revenue curve (i.e., you need two separate graphs with quantity on the horizontal axis).The chart below shows how annual electricity for an average Ontario household would vary with the price paid for electricity. Calculate the arc elasticity of demand for electricity for this average houschold. Also, in the final column, calculate the total revenue from sales of clectricity to this household. Price Quantity Demanded Kwh/year Total Revenue $/kwh Elasticity of Demand $0.25 1200 -0.36 $0.20 1300 $0.15 1400 $0.10 1500 $0.05 1600 Hint: The own price elasticity of demand is the percentage change in the quantity demanded divided by the percentage change in the price. What factors do you think influence the elasticity of demand for this household?For the demand equation, express the total revenue R as a function of the price p per item. q=-5p+1000 R(p) = Sketch the graph of the resulting function. O No Solution Help 20 90000 80000 70000 60000 50000 40000 30000 20006 10000 20 40 60 50 100 120 140 160 180 200 220 240 260 280 -1/000+4 51 WebAssign. Graphing Tool Determine the price p (in dollars) that maximizes total revenue. p = $ Graph Layers After you add an object to the graph you can use Graph Layers to view and edit its properties.
- Greentech- a high technological pharmaceutical company, has developed a clot-dissolving drug called TPA that will halt a heart attack in progress. TPA saves life, minimizes hospital stays, and reduces damage of the heart itself. It is priced at $ 2,200 per dose. What pricing approach does Greentech appear to be using? Is demand for this drug is likely to be elastic with price? Note: Please answer the question with points and exampleUrgent needed within 30minyou own a small cineplex theater with 200 seats. the demand for seats is Q=3000-20P. you are charging rm6.50 per ticket and selling tickets to 160 people. your costs are fixed at rm125 and do not depend on the number of people attending. should you cut your price to fill the theatee? explain. what other pricing policies might you use to increase your profits?On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per bike. 1280 1200 Total Revenue 1120 - 1040 980 880 800 720 640 560 o15 30 45 60 75 90 105 120 135 150 165 180 PRICE (Dollars per bike) According to the midpoint method, the price elasticity of demand between points A and B is approximately ▼ Suppose the price of bikes is currently $30 per bike, shown as point B on the initial graph. Because the demand between points A and B is a $15-per-bike increase in price will lead to in total revenue per day. In general, in order for a price decrease to cause a decrease in total revenue, demand must be TOTAL REVENUE (Dollars)
- Analyse the determinants of demand for cars in the Malaysian market.The monthly demand and supply schedules for new cars at a large California dealership are shown in the table below. Market for New Cars Price (dollars) $40,000 35.000 30,000 25 000 20,000 Quantity of Cars Demanded 108 200 300 400 500 Quantity of Cars Supplied ase Ltd 350 3250 300 250 If the dealership is currently charging $35,000 for a new car, at the end of the month there will be a shortage of 125 cars. O a surplus of 25 cars. a surplus of 125 cars. a shortage of 100 cars. O neither a surplus nor a shortage; the market will be in equilibrium.I have filled in al the mathematical answers / just need graphs that are bold with asteriks The following relations describe monthly demand and supply for a computer support service to small businesses: Qd = 3000 - 10P Qs = -1000 + 10P Where Q is the number of businesses that need services and P is the monthly fee, in dollars. At what average monthly fee would demand equal zero? Qd = 3000 – 10P 0 = 3000 – 10P 10P = 3000/10 P = $300 At what average monthly fee would supply equal zero? Qs = -1000 + 10P 0 = -1000 + 10P -10P = -1000 P = 1000/10 P = $100 ***Plot the supply and demand curves. What is the equilibrium price/output level? We know at equilibrium, Qd = Qs 3000-10P = -1000+10P 3000 + 1000 = 10P + 10P 4000 = 20P 4000/20 P = $ 200 (Equilibrium Price) If P = $200 Qd = 3000 – 10(200) Qd = 3000 – 2000 Qd = 1000 units (Output level) Qs = -1000 + 10(200) Qs = -1000 + 2000 Qs = 1000 units (Output level) Suppose demand increases and leads to a new demand curve: Qd = 3500 -…