Suppose the demand for a product X produced by a company AAA is given by the following function: QX = 2000 - 250*PX. At what price per item of the product X (EUR) can this copmany maximize its total revenues? Fill in the Table gaps: Demand function Price function Total Revenue (EUR) Marginal Revenue (EUR) Quantity Price per product (EUR) Q = 2000 - 250P P = ? TR = Q*P MR = dTR/dQ = 0 Q = ? P = (2000 - Q)/250   250P = 2000 - Q TR = Q*(2000 - Q)/250 MR = 8 - 2*Q/250 Q/125 = 8 P = (2000 - 1000)/250   P = (2000 - Q)/250 TR = 8*Q - Q^2/250 8 - Q/125 = 0 Q = 1000 P = 4                         Alternative solution Demand function Total Revenue (EUR) Marginal

Q: Project #1: Parts I, II & III: The demand function for a product is p = 30 – 0.3q and the average…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What price should you set for a product?  This week we’re learning a useful numerical rule.…

A: Optimal pricing condition where the producer maximizes its profit is achieved at the point where -…

Q: Use the price-demand equation below to find the revenue function. Sketch a graph of the revenue…

A: It is possible to derive the total revenue function from the demand function.

Q: ollars) 6. Study Questions and Problems #6 In the following table, which contains the demand…

A: Price (P)Quantity Demanded (Q)Total Revenue (TR = P * Q)Marginal Revenue (MR = TRn- TRn-1)Price…

Q: A garden shop determines the demand function q = = D(p) = 4p+1000 %3D during early summer for 40p+26…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: With a marginal cost of MC = 10, the profit-maximizing quantity and price is MR = 50 - 2Q = 10 Q =…

A: In a monopoly market structure,  There exists a single seller.  The monopolist produces where the…

Q: The Olde Yogurt Factory has reduced the price of its popular Mmmm Sundae from $2.25 to $1.50. As a…

A: Elasticity shows the percentage change in quantity due to percentage change in price.  Price…

Q: ssume the following demand function for Mango Juice: QD = 40-2P a. What is the price elasticity of…

A: The Price elasticity of demand measures the degree of responsiveness of demand to change in price.…

Q: Suppose, by: X=900-- a) Find the price per pound (p) that maximizes the revenue. b) Find the demand…

A: Given information: X = 900 - (100/3)P2. Where  X is the daily demand for chocolate candy in pounds P…

Q: Supply function is a functional relationship between quantity supplied of a commodity and

A: # we know that the law of supply give the relationship between the quantity supplied and the price…

Q: The demand equation for the Roland portable hair dryer is given as follows where x (measured in…

A: Alfred Marshall, an economist, popularised the concept of "elasticity" in the late nineteenth…

Q: Use the provided formula for the elasticity of demand to help answer the following. I will grade…

A: Elasticity of demand measures the responsiveness of the quantity demanded of a good or service to a…

Q: Let a demand function be given x=3*(p-55)^2 (a) Find the Revenue when the price per item is 25…

A: Price elasticity of demand: It measures the percentage change in the quantity demanded for a 1%…

Q: Find the partial elasticity of Q with respect to K and L, given the following production function 1…

A: Parial elasticity of each input shows how output changes with change in amount of the respective…

Q: Consider the linear supply function Qs = -c + dP.  Compute a slope and elasticity of the supply…

A: Supply(ss) curve shows a direct-relationship between price(P) and quantity supplied(QS) i.e. when…

Q: The demand and supply equations for product A are given by the following equations: ? = 40 − 5? ? =…

A:

Q: Consider a competitive market for red lentils with 100 identical farmers in Horsham Victoria, a…

A: Given that:   Consider a competitive market for red lentils with 100 identical farmers in Horsham…

Q: The demand equation for a product is q= (90/ p) – 2 and the supply function is q = p – 1; determine…

A: Consumer surplus measures the difference between the highest price that a consumer is willing to pay…

Q: During the 1950s the wholesale price for chicken for a country fell from 25e per pound to 14e per…

A: Demand function seeks to explain how the quantity demanded by buyers is related to the price of a…

Q: Refer to the company that you proposed in the previous question. For each scenario below, use a…

A:

Q: The marginal revenue of a company is given by (a) MR(Q) = 3 + 4Q + 6Q2, where Q is the number of…

A: Price elasticity refers to the responsiveness of quantity demanded to the change in price level.

Q: The inverse supply function for mead is given by the equation p-50+2q. What is the price elasticity…

A: Supply elasticity measures how sensitive a good's quantity supplied is to variations in its price.…

Q: 1. As an agriculture analyst for the Union of American Fruit Producers (UAFP), you are in charge of…

A: Demand is amount of a good that consumers are willing and able to purchase at different…

Q: Your marketing department project that the supply function for bottles of wine is given by; Qxs=1800…

A:

Q: Consider the demand function given by: Q = 350 - 0.5P; Q is output demanded, and P is unit price.…

A:

Q: Assume that the quarterly demand for an SUV produced by an automobile company is Qd = 150,000 –…

A: Answer: Given, demand function: Qd=150,000-1.5P (A). When the revenue is maximum the demand is unit…

Q: The following demand function is given: q = 70 – 1,5p Calculate the arc price elasticity of demand…

A: Price elasticity of demand: - Price elasticity of demand measures the responsiveness of change in…

Q: A firm produces a steel bar. When the price of the steel bar is $ 30,000, the quantity demanded is 8…

A: Given: Price of the steel bar (P1 )=$ 30,000 Quantity demanded (Q1) =8 metric tons A 100% change in…

Q: Given the supply - demand function of printers in Vietnam as follows: Sx = -20000 + 250P %3D Dx =…

A: Given, Supply function Sx = -20000 + 250P And demand function Dx = 160000-350P Let's first…

Q: Q (3) Find the price elasticity of supply for the following supply function Q = -2 + 0.8 P when…

A: The supply curve shows the positive relationship between price and quantity supplied. The supply…

Q: The coconut oil demand function (Buschena and Perloff, 1991) is Q = 1,200 - 9.5p + 16.2 pp + 0.2Y,…

A: The demand function is given as The value of p is 45 c per pound.The value of Pp is 31 c per…

Q: The coconut oil demand function (Bushena and Perloff, 1991) is Q=1,200-9.5p+16.2pp+0.2Y, where Q is…

A: Demand function: Q=1200-9.5p+16.2pp+0.2Y P value=55 PP value=29 Q=1375 Please find the image…

Q: Suppose the demand function for a firm's product is given by In Qxd = 7 -1.5 In Px + 2 In Py-0.5 In…

A: Microeconomics explains demand elasticity as a measure of the propensity for demand of a thing to…