Please answer last 2 questions. • 1) The San Diego Zoo is contemplating a stuffed panda bear advertisingpromotion. Annualized sales data from local shops marketing the "Can'tBear it When You're Away" bear indicate that:Q = 50,0001,000P• where Q is Panda bear sales and P is price.• a)• b)• c)• d)• e)How many pandas could the zoo sell at $30 each?What price would the zoo have to charge to sell 25,000 pandas?At what price would panda sales equal zero?How many bears could be given away?Calculate the point price elasticity of demand at a price of $10.

1) Quantity demanded in economics refers to the total measure of a service or item which consumers…

• 1) The San Diego Zoo is contemplating a stuffed panda bear advertising promotion. Annualized sales data from local shops marketing the "Can't Bear it When You're Away" bear indicate that: Q = 50,000 1,000P • where Q is Panda bear sales and P is price. • a) How many pandas could the zoo sell at $30 each? • b) • c) • d) • e) What price would the zoo have to charge to sell 25,000 pandas? At what price would panda sales equal zero? How many bears could be given away? Calculate the point price elasticity of demand at a price of $10.

• 1) The San Diego Zoo is contemplating a stuffed panda bear advertising promotion. Annualized sales data from local shops marketing the "Can't Bear it When You're Away" bear indicate that: Q = 50,000 1,000P • where Q is Panda bear sales and P is price. • a) How many pandas could the zoo sell at $30 each? • b) • c) • d) • e) What price would the zoo have to charge to sell 25,000 pandas? At what price would panda sales equal zero? How many bears could be given away? Calculate the point price elasticity of demand at a price of $10.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter12: More Realistic And Complex Pricing

Section: Chapter Questions

Problem 12.1IP

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Question

Please answer last 2 questions.

• 1) The San Diego Zoo is contemplating a stuffed panda bear advertising
promotion. Annualized sales data from local shops marketing the "Can't
Bear it When You're Away" bear indicate that:
Q = 50,000
1,000P
• where Q is Panda bear sales and P is price.
• a)
• b)
• c)
• d)
• e)
How many pandas could the zoo sell at $30 each?
What price would the zoo have to charge to sell 25,000 pandas?
At what price would panda sales equal zero?
How many bears could be given away?
Calculate the point price elasticity of demand at a price of $10.

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