(d) Find a nonzero price at which there is positive total demand for dogpolishers and at which there is a kink in the demand curve.What is the market demand function for prices below the kink?kink?.What is the market demand function for prices above the(e) Where on the market demand curve is the price elasticity equal to-1?At what price will the revenue from the sale of electricdog polishers be maximized?If the goal of the sellers is tomaximize revenue, will electric dog polishers be sold to breeders only, topet owners only, or to both?Price30025020015010050050100150 200250 300Quantity 15.3 (0) The demand function of dog breeders for electric dog polishers= max{200-p, 0}, and the demand function of pet owners for electricdog polishers is qo= max{90 - 4p, 0}.is qb=

Given demand function The demand function for the dog breeders for electric dog…

Answered: 15.3 (0) The demand function of dog…

15.3 (0) The demand function of dog breeders for electric dog polishers is q = max{200—p, 0}, and the demand function of pet owners for electric dog polishers is qo= max{90 - 4p, 0}.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(d) Find a nonzero price at which there is positive total demand for dog
polishers and at which there is a kink in the demand curve.
What is the market demand function for prices below the kink?
kink?.
What is the market demand function for prices above the
(e) Where on the market demand curve is the price elasticity equal to
-1?
At what price will the revenue from the sale of electric
dog polishers be maximized?
If the goal of the sellers is to
maximize revenue, will electric dog polishers be sold to breeders only, to
pet owners only, or to both?
Price
300
250
200
150
100
50
0
50
100
150 200
250 300
Quantity

15.3 (0) The demand function of dog breeders for electric dog polishers
= max{200-p, 0}, and the demand function of pet owners for electric
dog polishers is qo= max{90 - 4p, 0}.
is qb
=

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