The demand function for apples is the following. Qn = 10 – Pn + 0.2Y +0.5 Pc – 2Ps + 0.2A Where: Qn = annual sales of apples (millions of kilos) Pn = price of apples (£1 per kilo) Y = disposable income in the UK £trillions (£10 trillions) Pc = price of a pies £ per kilo (£2 per kilo) Ps = price of pear (£2 per kilo) A = advertising measured in hundreds of thousands of £5 (use as 5 in your calculations) What is the demanded quantity for apple now, based on this equation? a. 3 million kilos b. 6 million kilos c. 9 million kilos d. 12 million kilos e. All the other answers are wrong.

Q: Find the demand equation using the given information. (Let x be the number of items.) A company…

A: Demand equation shows relationship between price and quantity demanded. It shows how much quantity…

Q: Find the demand equation using the given information. (Let x be the number of items.) A company…

A: The demand equation, or the demand function, is a mathematical relationship between the quantity…

Q: You are given a price-demand function, p(x) = -9x + 60, where x is the number of items made and sold…

A: You are given a price-demand  function, p(x) = -9x + 60, where x is the number of items made and…

Q: The daily demand for Guchi handbags is estimated in linear demand function as follows: Qd = 100 -…

A:

Q: lasticity of demand has an effective role in the decisions of business firms. Moreover, Government…

A: The elasticity of demand refers to the method of calculating the change in demand due to the change…

Q: 2) (20) Demand for widgets is a linear function of price. If the price of Widgets is set to $20,…

A: "As per our policy, we are providing you with the solution of the first three sub-parts. Kindly…

Q: You have the following demand function: QD=300-2*P Where the "300" is actually in three parts, an…

A: The demand equation is The actual demand representing the two intercepts isThe value of M is 80 The…

Q: Given the demand and supply function for a product as Q = 1500 - 3P (Demand) Q = 1100 + 2P…

A: Equilibrium is the oont where price and quantity is determined through market mechanism and…

Q: Q 5P + (1.8) .81, SER = 1.75. Where Q is monthly sales quantity of screen guard computer glasses P…

A: Based on the given information, Maurice Smith estimated the demand for his 'screen guard' computer…

Q: If club members charge $9 admission to a classic car show, 1,000 people will attend, and for each $1…

A: The charge to a classic show = $9 Number of people attend the show at the price $9 = 1000 If the…

Q: Consider maximising 8 - x2 - 4y2 + 2xy where where x ≥ 4. What y-value solves this maximisation…

A: We will use the Lagrange multiplier to solve the above equation given the constraint. Let Z = 8 - x2…

Q: compute the present consumption of the cereals.

A: Income elasticity of demand is a measure which calculates the change in quantity demanded by the…

Q: The coconut oil demand function (Buschena and Perloff, 1991) is Q=1,200-9.5p+16.2pp +0.002Y, where Q…

A: Given the demand function of coconut oil :Given the values, Now we calculate the demand function by…

Q: The yearly demand for bags of Chinese fortune cookies on the European market is given by Price (in…

A: The term price elasticity of supply is a metric that is used to measure how the supply of a product…

Q: consumer spending (concept)

A: Consumer spending is the total money spent on final goods and services by individuals and households…

Q: Assume that the demand curve is a straight line. If the price per unit of a good rises from $2.40 to…

A: Point elasticity of demand = dQ/dP * P/Q Arc price elasticity = [(Q2 - Q1) / {(Q2 + Q1) / 2}] / [(P2…

Q: T/F    Normal goods demand increase with the increase in the income of the consumer and vice…

A: A person or business that buys products and services for production purposes or for their own…

Q: Let p = - - 2x + 20 be the demand function, where p is the unit price of a certain commodity, and a…

A: * SOLUTION :-

Q: x= chronological order of the second letter in your first name y = is the last digit of your student…

A: Given information Demand rate function X2+3*P*X+P2=79 P=5

Q: uppose that the demand curve for a product is given by Q = 100 – 2 Px + a Py, here Px = £20, where…

A: Elasticity of demand depicts how much consumer responds with the change in price.

Q: Using a linear specification, you estimate your demand curve to equal Q=10-5P+20C+2A, where • Q =…

A: * Demand : Q=10-5P+20C+2A * The elasticity of demand with respect to college-ratio (C) can be…

Q: Explain how the Covid-19 pandemic impacted on the original budget in South Africa

A: The budget depicts the plan of fiscal consolidation that would be addressing the country's…

Q: Which determinant of demand changes in the personal computer market as more individuals become…

A: In terms of economics, demand is the willingness of a consumer to purchase goods and services at a…

Q: Suppose that the inverse demand curve for a product is given by: P = 100 -Q°. +. 2M, where M is the…

A: Given: Inverse demand function: Inverse supply function:

Q: Online the timing and tailoring of prices to specific products is the key to successful pricing in…

A: Elastic demand is the state in which demand adjusts in response to a small change in price. Price…

Q: Assume that the demand curve is a straight line. If the price per unit of a good rises from $4.50 to…

A: Price elasticity of demand means percentage change in quantity demanded due to the percentage change…

Q: A company finds that the rate at which the quantity of a product that consumers demand changes with…

A: The demand function is a mathematical representation that describes the relationship between the…

Q: Given demand function of the orange market P = 153 - 2Qp. You sell oranges at the price TK85. What…

A: Given: P=153-2Qd Price=TK85

Q: Suppose the demand function for product X is estimated by the equation: QDX= -2PX + 0,5PY - 0,2PZ +…

A: The demand function is explained by the impact of determinants on the quantity demanded.

Q: In your country, the demand curve of a litre of petrol is given by: P = 107 - 5QD. Due to political…

A: Elasticity is a measure of the sensitivity of one variable with another, often calculated as the…

Q: Suppose that the government has a goal to reduce the demand for cigarettes in support of a health…

A: Introduction Demand refers to the amount of a commodity that a consumer is ready to buy at different…

Q: Calculate the value of Total revenue if price per kg of apples are $15 and the total quantity of…

A: In the above given question, the information given is as follows:- Price per kg of apple = $15…

Q: The short run price elasticity for electricity consumption is -0.20. If the current price of…

A: The mid-point elasticity is the ratio of the average quantity demanded to the average price. It is…

Q: Consider the demand function for good1, Q1 = 2037 - 9P1 + 0.6000000000000001P2 - 0.75P3 + 0.07Y…

A: Q1 = 2037 - 9P1 + 0.60P2 - 0.75P3 + 0.07Y   Plugging given values,   Q1 = 2037 - 9 x 59 + 0.6 x 255…

Q: The diagram to the right illustrates a hypothetical demand curve representing the relationship…

A: Total revenue is everything of total deals of labor and products. It is determined by increasing the…

Q: Given demand function of the orange market P = 133 - 4QD. You sell oranges at the price TK83. What…

A: Total Revenue = P*QD Where QD is calculated at a given prices.

Q: Exercise 2 Suppose you have the following hypothetical demand or sales functie Qx=…

A: Demand function can be described as a relationship between quantity demanded and its determinants…

Q: Consider the following demand function for frozen dinners where QD is the quantity of frozen dinners…

A: Cross price elasticity of demand refers to the responsiveness of change in the quantity demand due…