Solve and analyze the following problems. Make sure all the steps are properly justified. Correctly use mathematical notation or terminology. Interpret the solution in the context of the problem. Suppose the supply and demand equations for printed shirts for a graduating class are given by p = 0.7q + 3 p = -1.7q +15 where p is the price in dollars and q is the quantity in hundreds. Determine supply and demand if the shirts cost $ 9.00. Analyze and discuss the stability of the shirt market at this price level. Prepare the graph of the two equations in the same coordinate system and identify the equilibrium point, the supply curve, and the demand curve.

Q: You have the following data for product X: sales revenue $14,000, allocated fixed costs $12,000,…

A: Profitability is a proportion of an association's benefit comparative with its costs. Associations…

Q: Pricing for many service firms (hotels, airlines) O can vary from location to location but not daily…

A: The process of determining a value for a commodity or service is known as pricing in economics and…

Q: he graph depicts the average total cost (ATC) of a firm that mas decided to start advertising. The…

A: ***Since the new value of the ATC have not been provided, hence, the expert is required to solve…

Q: The graph to the right shows the demand and cost conditions facing a price-setting firm. When output…

A: A trader's earnings or revenue is the term used to describe the financial gain they have…

Q: A company has established that the relationship between the sales price for one of its products and…

A: Profit refers to the financial gain that results from the difference between the total revenue…

Q: (d) Define the cost function g(n) = cost of making n sandwiches. Assume the cost to make 800…

A: "Since you have posted multiple questions, I can only answer the first question, rest you need to…

Q: The next series of questions uses the following table.  The table contains 5 columns: Quantity Q,…

A: Firm's seek to maximise profits over the short and long terms by utilising the most efficient…

Q: On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when…

A: The midpoint technique of price elasticity of demand considers average price and quantity while…

Q: Find average revenue if output is 100 units and total revenue is $2000

A: The information being given to us is:- Total revenue of firm = $2000 Output = 100 units  We have to…

Q: Explain Market pain.  Provide an example of a product that solves market pain.

A: Business specialists and investors allude to showcasing "torments" as a condition of occasions where…

Q: Do not use chatgpt

A: Presentation of the Solutions to the Question(s) To analyze the pricing strategy for Microsoft's…

Q: When the price is between AVC and ATC (ATCAVC), then total revenue for the competitve firm

A: TR = P x Q TVC = AVC x Q TC = ATC x Q

Q: In this problem, p is in dollars and x is the number of units. The demand function for a product is…

A: Equilibrium of market is achieved when demand for goods and services are equal to supply for goods…

Q: 2. A demand function for step stools manufactured by U-Step is q = -720p +20,500. What evenue if the…

A: Demand curve shows an inverse relationship between price and quantity demanded.Total revenue is…

Q: Bill runs a business that makes custom-printed towels. It will cost him $8 each to purchase and…

A:

Q: A manufacturer of hospital supplies has a uniform annual demand for 500,000 boxes of bandages. It…

A: In this problem, we have the following variables:Annual demand (D) = 500,000 boxesStorage cost per…

Q: The quantity demanded for an iPad is 180 units when the unit price is set at $300. The quantity…

A: To find the demand function, we can use the two data points provided: (180, 300) and (1200, 260).…

Q: help please answer in text form with proper workings and explanation for each and every part and…

A: According to the table there are 300 units demanded at the price of $10. Assuming one customer buys…

Q: Use the table below to answer the following questions: Quantity Demand (Price) Marginal Revenue…

A: In perfect price discrimination,  Firm will charge the price equal to consumer's willingness to pay.…

Q: On the following graph, use the green point (triangle symbol) to plot the weekly total revenue when…

A: The total receips collected from the sale of goods at the market price is known as the total…

Q: Describe the various cost components that affect the retailgasoline price?

A: Gasoline is one of the many petroleum products which is made by refining crude oil. The price of…

Q: b. Calculate the profits (or losses) for this typical firm. per month c. At this market price, will…

A: Firm produces at the point where P=MC since, in perfect competition price is constant and equal to…

Q: The Orlando Magic is the National Basketball Association (NBA) professional basketball team that…

A: Total cost is the total cost incurred by a firm to produce a good or a service. Total cost includes…

Q: Your product's revenue per unit is $30, and product's cost per unit is $10. If the demand for next…

A: Given information: Per unit revenue (selling price): $30 Per unit cost (variable cost): $10 Demand…

Q: Price S1 $1,200 ,097.50 $995 $796.25 $497.50 D1 400 700 1,000 1,500 Premium seats a week

A: Supply curve shows quantity supplied at different prices and demand curve shows quantity demanded at…