The supply and demand curves for a business dealing with wheat are Supply: p = 1.47 + 0.00018x² Demand: p = (2.348 - 0.009x)² where p is the price in dollars per bushel and x is the quantity in bushels per day. Use a graphing utility to graph the supply and demand equations and find the market equilibrium. (The market equilibrium is the point of intersection of the graphs for x > 0 Round your answers to two decimal places.) X=____buchels p = $_______.
Q: A metal producing company wishes to blend a new allow that consists of 40 percent tin, 35 percent…
A: Objective Functions and Constraints: Based on the given details, the objective…
Q: Marketing research has found that at a price of $179.95 per unit, sales would be 175,000 ui week. If…
A: Let Price be P The number of units produced and sold per week be x
Q: I need typing clear urjent no chatgpt use i will give 5 upvotes full explanation
A: To determine the exact number of firms that can profitably enter the market, solve the equation we…
Q: Suppose that there is a civil case against a defendant. The
A: In an American-style legal fee structure, increasing each party's predicted net gain—which is…
Q: Find an equation giving the relationship between the temperature F measured on the Fahrenheit scale…
A: The relationship between two variables is said to be linear when a change in explained variable is…
Q: Suppose savers either buy bonds or make deposits in savings accounts at banks. Initially, the…
A: A budget deficit is a situation when the country’s expenditure increased from its revenue.
Q: A bakery must decide how many pies to prepare for the upcoming weekend. The bakery has the option to…
A: Given Information; Cost Price of a pie = $ 5 Selling Price of a pie = $ 7 Demand Probability…
Q: (a) Formulate a linear programming model for this problem. (b) Solve this model by the simplex…
A: For this question, first, I would formulate the LP, then, I would solve this problem using the…
Q: Suppose that a market is described by the following supply and demand equations: QS = 2P QD = 240−P…
A: Before Tax:Given, Market Supply Equation, QS=2PMarket Demand Equation, QD=240−PNow at…
Q: The secondary market is the market wherein:\\nQuestion 2 options:\\n\\nthe government is either the…
A: The secondary market is a crucial part of the financial system, playing a vital role in the buying…
Q: BYOB is a monopolist in beer production and distribution in the imaginary economy of Hopsville.…
A: Profit will be maximized at the level of output where Marginal Revenue = Marginal Cost In the given…
Q: What percentage of the variation in y can be explained by the corresponding variation in x and the…
A: Let me state the given data, xy536576.75757717.571For this data, I will determine the coefficient…
Q: 2. Period 1 2345 (1). The forecasting technique F1 was used to forecast demand for cases of bottled…
A: MAD:
Q: A particular automobile costs an average of $21,755 in the Pacific Northwest. The standard deviation…
A: A random sample is a sample of the population where the variables in the samples are taken randomly.…
Q: Consider an economy with three types of jobs. The table below shows the jobs, the frequency with…
A: Economics is a science and an art Both calculates the data based on facts as well as believe that…
Q: The relationship between marketing expenditures (x) and sales (y) is given by the following formula,…
A: Marketing expenditures play a crucial role in driving sales and promoting business growth.…
Q: The accompanying table shows a bookstore's estimated demand for a new calendar. The bookstore needs…
A: Below is the solution:-
Q: In the figure below, no probabilities are known for the occurrence of the nature states. For the…
A: Note: - Since we can answer only three subparts, we will answer the first three subparts here. If an…
Q: A farmer wants to decide which of the three crops he should plant on his 100-acre farm. The profit…
A: Find the Given details below: Given details: Alternative Rainfall High Medium Low Crop A…
Q: The SCP model dates back to the pioneering work of the Harvard economist Edward Mason, in the 1930s,…
A: Note: A generalized solution is provided here as per our guidelines. SCP Model-The…
Q: Consider the simple von-Thunen model of agricultural land use developed in class. This question asks…
A: Given: Carrot yield (E) is 20 tons per acre Carrot Sell at $ 15 per ton (P) at the Market Non-land…
Q: Kevin’s friend, Sam, runs a septic tank repair business. Your research shows that the following…
A: The question of price elasticity of demand is answered below:
Q: Calculate the mass product of inertia (Ixy, Ixz, Iyz) in the following figure and prove that it is…
A: Step 1: Step 2: Step 3: Step 4:
Step by step
Solved in 2 steps with 1 images
- Demand is forecasted using the following regression equation: D = 100 + 15(t) where “t” is a specified future time period. The current time period is 0 (t=0). The machines used to make this product have a capacity of 50 units/time period. The company currently has 4 machines yielding a total capacity of 200 units/time period. Due to technology changes, the current equipment will become obsolete at the end of period 15. If a new machine costs $2000, and the net revenue earned per unit is $10, how many machines should be added between today (t=0) and the end of period 15?A trucking firm handles four commodities for a particular distributor. Total shipments for the commodities in the years 2000 and 2015, as well as the prices in the year 2000, are reported in the following table. Commodity Shipments Price/Shipment2000 2000 2015 A 120 90 $1,200 B 86 73 $1,800 C 35 50 $2,000 D 60 70 $1,500 Develop a weighted aggregate quantity index with a 2000 base. (Round your answer to the nearest integer.) I2015 = ______The supplier's unit cost for the product is $10. The product is sold by the supplier to the retailer for $15 per unit. The retailer then sells the product to end consumers for $20 per unit. There is no value for unsold items. Demand for the product in the consumer market follows a Normal distribution with a mean of 3000 and a standard deviation of 1000. The retailer must determine the quantity to order before actual demand is known. a) What is the optimal order amount for the retailer? b) The supplier offers to buy any unsold product at $5. What is the buyer's optimal order quantity? c) What would be the best buyback offer for the supplier? find the optimal buyback price that the supplier should offer to the retailer so that one does not earn less than the wholesale price contract in part a. (d) What would be the optimal order quantity if both companies were owned by the same person?
- Osteoporosis is a degenerative disease that primarily affects women over the age of 60. A research analyst wants to forecast sales of StrongBones, a prescription drug for treating this debilitating disease. She uses the model Sales = B0 + B1 Population + B2 Income + E, where Sales is the sales of Strong Bones (in $1,000,000s), Population is the number of women over the age of 60 (in millions), and Income is the average income of women over the age of 60 (in $1,000s). She collects data on 32 cities across the United States and obtains the following regression results: Coefficients Standard Error t Stat p-Value Intercept Population Income 10.01 3.93 2.55 0.0231 8.19 2.20 3.72 0.0338 7.24 6.40 1.13 0.3758 a. What is the sample regression equation? Note: Enter your answers in millions rounded to 2 decimal places. Sales = Population + Income b-1. Interpret the coefficient of population. As the number of women over the age of 60 increases by 1 million, sales of Strong Bones is predicted to…2 Vidhya Balan is planning to liquidate her investments inmutual funds and invest in real estate. Before makingthe change to her investment strategy, Vidhya wants toforecast the price of mutual funds for the next 2 months.She has collected the following data on the average fundprices for the past 10 months.Month Average Fund Price1 55.12 53.83 53.44 52.955 52.156 52.757 52.658 51.59 52.2510 51.7a Using a five-period moving average, forecast theaverage fund price for Period 11.b. Using exponential smoothing with α = 0.3 forecastthe average fund price for Period 11. Assume an initialforecast for Month 2 (F2) as 55.10with the information given draw a graph, On the x-axis, you would have the number of units sold (from 0 to 800,000 in increments of 100, 000) and on the y-axis, you would have the dollar amount (from 0 to $3,200,000 in increments of $ 400,000). Draw a line from the origin with a slope equal to the variable cost per unit ($2.5) to represent total variable costs. Draw a horizontal line at $600,000 to represent total fixed costs. The sum of these two lines gives the total cost line. Draw another line from the origin with a slope equal to the selling price per unit ($4) to represent total sales. The point where the total sales line intersects the total cost line
- All MBA students have to take entry test for admission to AUAF. Scores are normally distributed with a mean of 230 and standard deviation of 40. What fraction of applicants would you expect to have scores of 300 or above? A- 0.0401 B- 0.4599 C- 0.5401 D- 0.0325ABC Co. produces a product in the United Kingdom at a cost of £0.55 per unit which it then sells in France for €1.25 per unit. If in the currency markets, 1 U.S. dollar = £0.6373 and 1 U.S. dollar = €1.0279, how much profit is realized by ABC Co. on each unit of product sold? A. $0.7857 B. $0.3531 C. $0.2571 D. $0.1095Use the following data to answer all of the remaining questions. Consider a commodity market where the products provided by all sellers are identical. A group of 12 potential buyers in this market have willingness to pay (WTP) as follows (in random order): $65, $60, $55, $80, $70, $30, $20, $55, $10, $45, $40, and $15. A group of potential suppliers serving this market have wiliness to accept (WTA) as follows (also in random order): $20, $25, $30, $10, $45, $50, $55, $15, $20, $30, $40, and $60. What is the value captured by all sellers? Buyers 2. What is the value captured in this market by an individual buyer with WTP = $80? 3. What is the total consumers surplus (i.e., all buyers) in this market? Value added 4. What is the value added for the supplier with a WTA (willingness to accept) of $15?
- An auto dealer believes that demand for 2024 model cars will be normally distributed with a mean of 200 and a standard deviation of 30. His cost of receiving a car is $25,000, and he sells the car for $40,000. Half of all cars not sold at full price can be sold for $30,000. He is considering ordering 200, 220, 240, 269, 280, or 300 cars. Which order quantity has the highest expected (average) profit? Which has the lowest standard deviation in profit?2 Vidhya Balan is planning to liquidate her investments in mutual funds and invest in real estate. Before making the change to her investment strategy, Vidhya wants to forecast the price of mutual funds for the next 2 months. She has collected the following data on the average fund prices for the past 10 months. Average Month Fund Price 1. 55.1 53.8 3 53.4 4 52.95 5 52.15 6. 52.75 7 52.65 8 51.5 9. 52.25 10 51.7 Using a five-period moving average, forecast the a average fund price for Period 11. b. |Using exponential smoothing with a = 0.3 forecast the average fund price for Period 11. Assume an initial forecast for Month 2 (F2) as 55.10