Chick-Thai is the only store sells chicken sandwiches around Santa Barabar, where the inverse demand function of chicken sandwiches is p(g) = 50 – 2q. The cost function of the chicken sandwiches is C(q) = $ +11q+ 10. After the protest from the angry crowd, the government decides to grant a $1 subsidy for each unit of sandwiches sold. By how much will the price of chicken sandwiches change after the subsidy? Round your answer to 2 decimal points. (If you find the price will increase by 5 dollars, put in "5"; if you find the price will decrease by 3.15 dollars, put in "-3.15".) Answer:
Chick-Thai is the only store sells chicken sandwiches around Santa Barabar, where the inverse demand function of chicken sandwiches is p(g) = 50 – 2q. The cost function of the chicken sandwiches is C(q) = $ +11q+ 10. After the protest from the angry crowd, the government decides to grant a $1 subsidy for each unit of sandwiches sold. By how much will the price of chicken sandwiches change after the subsidy? Round your answer to 2 decimal points. (If you find the price will increase by 5 dollars, put in "5"; if you find the price will decrease by 3.15 dollars, put in "-3.15".) Answer:
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter3: Demand Analysis
Section: Chapter Questions
Problem 6E
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![Chick-Thai is the only store sells chicken sandwiches around Santa Barabar, where the inverse demand
function of chicken sandwiches is p(q) = 50 – 2g. The cost function of the chicken sandwiches is
C(q) = + 1lq + 10. After the protest from the angry crowd, the government decides to grant a $1
subsidy for each unit of sandwiches sold. By how much will the price of chicken sandwiches change
after the subsidy? Round your answer to 2 decimal points. (If you find the price will increase by 5 dollars,
put in "5"; if you find the price will decrease by 3.15 dollars, put in "-3.15".)
Answer:](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2249bb7d-127b-4458-b041-004548beb688%2F23a3a4de-87c6-4363-a474-6010afcf6e45%2Fb0dm4f7_processed.png&w=3840&q=75)
Transcribed Image Text:Chick-Thai is the only store sells chicken sandwiches around Santa Barabar, where the inverse demand
function of chicken sandwiches is p(q) = 50 – 2g. The cost function of the chicken sandwiches is
C(q) = + 1lq + 10. After the protest from the angry crowd, the government decides to grant a $1
subsidy for each unit of sandwiches sold. By how much will the price of chicken sandwiches change
after the subsidy? Round your answer to 2 decimal points. (If you find the price will increase by 5 dollars,
put in "5"; if you find the price will decrease by 3.15 dollars, put in "-3.15".)
Answer:
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