11- It is estimated that consumers will buy Q (p)4,374kg of imported beans per week whenp2the price is p$ per kg. It is estimated that t weeks from now, the price of this type ofbeans will be p(t) = 0.04t2 + 0.2t + 12 dollars per kg.a. Estimate the weekly consumer demand for the beans as a function of t.b. How many kg of beans will consumers buy 10 weeks from now?

Consumer demand is a monetary indicator of a group's willingness to pay for a product or service…

4,374 11- It is estimated that consumers will buy Q(p) = p2 kg of imported beans per week when the price of this type of the price is p$ per kg. It is estimated that t weeks from now, beans will be p(t) = 0.04t2 + 0.2t + 12 dollars per kg. a. Estimate the weekly consumer demand for the beans as a function of t. b. How many kg of beans will consumers buy 10 weeks from now?

4,374 11- It is estimated that consumers will buy Q(p) = p2 kg of imported beans per week when the price of this type of the price is p$ per kg. It is estimated that t weeks from now, beans will be p(t) = 0.04t2 + 0.2t + 12 dollars per kg. a. Estimate the weekly consumer demand for the beans as a function of t. b. How many kg of beans will consumers buy 10 weeks from now?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter5: Elasticity

Section: Chapter Questions

Problem 7SCQ: What would the gasoline price elasticity of supply mean to UPS or FedEx?

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