Question

In: Math

Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 139...

Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 139 units of their portable media player each week when the price is set at $34.50 per unit. At a unit price of $10.40, consumers are willing to buy 380 units per week.

(a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related.
p =



(b) Determine the weekly revenue function.
R(x) =



(c) Determine the number of units consumers will demand weekly when the price is $30.30 per portable media player.
units

(d) Determine the number of units consumers will demand weekly when the revenue is maximized.
units

(e) Determine the price of each unit when the revenue is maximized.
dollars

Solutions

Expert Solution

Please give it a thumbs up if you like the answer. Comment if any problem in solution. :)


Related Solutions

Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 132...
Based upon market research, the Hawthorne Company has determined that consumers are willing to purchase 132 units of their portable media player each week when the price is set at $132.00 per unit. At a unit price of $40.50, consumers are willing to buy 315 units per week. (a) Determine the weekly demand equation for this product, assuming price, p, and quantity, x, are linearly related. p =   (b) Determine the weekly revenue function. R(x) =   (c) Determine the number...
Problem IX A,B,C: Consider the following valuations table for five consumers willing to purchase two differently...
Problem IX A,B,C: Consider the following valuations table for five consumers willing to purchase two differently colored T-shirts: CONSUMER VALUATION FOR BLUE T-SHIRTS VALUATION FOR PINK T-SHIRTS John 50 15 Bob 40 30 Tim 35 35 Jennifer 25 45 Maria 10 50 a) Assuming no production costs, what is the most profitable way to price these two goods independently? What are the prices and resulting profit? b) Assuming no production costs, what is the most profitable way to price these...
Bombardier, after spending $250,000 on a feasibility study, has determined that its customers will be willing...
Bombardier, after spending $250,000 on a feasibility study, has determined that its customers will be willing to pay more money for the C Series model if Bombardier invests in a manufacturing technology upgrade that can enhance the safety of the engine. Bombardier realizes that the delays in the C Series program are likely costing them potential sales of the C Series jets. The feasibility study allowed management to better understand the implementation costs of the new technology as well as...
Bombardier, after spending $250,000 on a feasibility study, has determined that its customers will be willing...
Bombardier, after spending $250,000 on a feasibility study, has determined that its customers will be willing to pay more money for the C Series model if Bombardier invests in a manufacturing technology upgrade that can enhance the safety of the engine. Bombardier realizes that the delays in the C Series program are likely costing them potential sales of the C Series jets. The feasibility study allowed management to better understand the implementation costs of the new technology as well as...
If liability insurance is not mandatory for auto driver, will you still purchase it? Based upon...
If liability insurance is not mandatory for auto driver, will you still purchase it? Based upon your answer, please define your attitude (averse, neutral, love) toward risk.
If liability insurance is not mandatory for auto driver, will you still purchase it? Based upon...
If liability insurance is not mandatory for auto driver, will you still purchase it? Based upon your answer, please define your attitude (averse, neutral, love) toward risk.    
Healthcare is dependent upon research based evidence to provide care, therefore it is important for all...
Healthcare is dependent upon research based evidence to provide care, therefore it is important for all providers (physicians, nurses, and ancillary personnel) to carefully research and cite studies and publications. Search the internet for three resources and find at least one internet source based on Stress Management. (at least a 2-3-pages)........
Healthcare is dependent upon research based evidence to provide care, therefore it is important for all...
Healthcare is dependent upon research based evidence to provide care, therefore it is important for all providers (physicians, nurses, and ancillary personnel) to carefully research and cite studies and publications. Search the web/library for three resources and find at least one reliable website based on your improvement project topic, on Stess Management. Write at least a 2-3-page report on your findings, be prepared to apply this research to your project on Stress Management.
Research the Best Buy current situation. Based upon the information provided in the case and what...
Research the Best Buy current situation. Based upon the information provided in the case and what you find out from your research, what would you recommend Best Buy do? What would a CLV perspective suggest they do? How well do you think Best Buy will do in this market? Explain your rationale.
PLEASE BE DETAILED AND SHOW THE CALCULATIONS OF THE ANSWERS A company is determined to purchase...
PLEASE BE DETAILED AND SHOW THE CALCULATIONS OF THE ANSWERS A company is determined to purchase a special tool at a cost of $ 9,000. This team will generate savings amounting to $ 3,000 the first year, with an increase of $ 500 per year until the end of the fifth year. The company uses the MACRS depreciation method. Consider a 21% tax rate. Complete the following table to determine the after-tax cash flow Years Cash flow before taxes Depreciation...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT