A typical discounted price of a AAA battery is $0.75. It is designed to provide 1.5 volts and 1.0 amps for about an hour. Now we multiply volts and amps to obtain power of 1.5 watts from the battery. Thus, it costs $0.75 for 1.5 Watt-hours of energy. How much would it cost to deliver one kilowatt-hour? (Think of a kilowatt-hour of electricity as the power needed to run your dishwasher one time.) How does this compare with the cost of energy from your local electric utility at $0.10 per kilowatt-hour? (1.2 1.3)
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- Suppose the demand for a product is given by D(p) : - 4p + 232. A) Calculate the elasticity of demand at a price of $16. (Give your answer to three decimal places.) Elasticity = B) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = $arrow_forwardPlease help with the following question. You are able to sell 15 gallons of ghost pepper sauce per month at a price of $200 per gallon. Re- search shows that for every $9 reduction in price that you can expect to sell 2 more gallons of sauce each month. How much should you charge in order to maximize monthly revenue? Round your response to two decimal places.arrow_forwardThe Vista TV Cable Co. currently has 100,000 subscribers who are each paying a monthly rate of $40. A survey reveals that there will be 1000 more subscribers for each $0.25 decrease in the rate. At what rate will maximum revenue be obtained, and how many subscribers will there be at this rate?arrow_forward
- All of the options are the same with each itemsarrow_forwardIn 2019, a ski resort increased the prices it charged for one-day ski passes and season passes. If someone buys a season pass, he can ski as many days as he wishes. The table below provides information on the prices and the number of passes sold in 2018 and 2019. Type of Pass One day Season Price in 2018 x 34000 $60 $1,200 Number of Passes Sold in 2018 5,000 250 Price in 2019 $80 $1,400 Given the information in the table, we know that the revenue earned from selling day passes changed by $ 52000 , and the revenue earned from selling season passes changed by $ Number of Passes Sold in 2019 3,100 190 From the answers to Part 1, we know that the demand for day passes is elastic demand for season passes is inelastic and thearrow_forwardPlease do this problem in excel( including calculations)arrow_forward
- Give typed solution only You are deciding whether to buy a car for $22,000 or to accept a lease agreement. The lease entails a $800 fee plus monthly payments of $260 for 48 months. Under the lease agreement, you are responsible for service on the car and insurance. At the end of the lease, you may purchase the car for $9000. Does the total cost of purchasing the car at the end of the lease agreement exceed the cost of purchasing the car at the outset? A.Yes, the total cost of the car at the end of the lease is B.No, the total cost of the car at the end of the lease is arrow_forwardThe demand function for a product is p= 45 5-9/10) where q is the number of units and p is the price of one unit. At what price will the demand be 5 units? How many units will be demanded if the price is $12.42?arrow_forwardPlease see the attached40arrow_forward
- Suppose you own a profitable small business in another state and you wanted to hold a meeting, but you needed to make a decision on whether to fly to the other state using your free frequent-flyer miles and pay a $100 cab-fare or hold a video conference meeting (at a facility that you have already prepaid a $2000 access-fee but must also paid a $155/hour to use the facility). What option should you choose?arrow_forwardi need 1, 2, 3 parts Solutionarrow_forwardSuppose Government of Pakistan wants to put a curb on public smoking. Studies indicate that the price elasticity of demand for cigarettes is about 0.4. If a pack of cigarettes currently costs Rs.175 and the government wants to reduce smoking by 30 percent, by how much should it increase the price? Kindly type only percentage change in the box given below. Do not use percentage sign in the box. Also, do not use any plus or minus sign in the box.arrow_forward
- Microeconomics: Principles & PolicyEconomicsISBN:9781337794992Author:William J. Baumol, Alan S. Blinder, John L. SolowPublisher:Cengage Learning