Question
In: Advanced Math
The management of Cal Supermarkets has determined that the quantity demanded per week of their 90%...
The management of Cal Supermarkets has determined that the quantity demanded per week of their 90% lean ground sirloin, x, and the quantity demanded per week of their 80% ground beef, y (both measured in pounds), are related to their unit prices p and q (in dollars), respectively, by the equations x = 6800 − 600p − 400q and y = 5200 − 400p − 600q. (a) What is the total revenue function R(p, q)? Hint: R(p, q) = xp + yq R(p, q) = (b) What price should Cal Supermarkets charge for each product to maximize its weekly revenue? (p, q) = How many pounds of each product will then be sold? (x, y) = What is the maximum revenue? $ Incorrect: Your answer is incorrect.
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Colby Messinger answered 1 year agoRelated Solutions
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? = 144−?2
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Price (dollars per firework)
Quantity demanded (fireworks per week)
Quantity supplied (fireworks per week)
4
220
40
5
200
80
6
180
120
7
160
160
8
140
200
9
120
240
10
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1. The table gives the demand and supply schedules for fireworks
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resulted from accidents involving fireworks, the government has
banned...
1. The demand and supply schedules for hot dogs are: Price Quantity demanded (millions per week)...
1. The demand and supply schedules for hot dogs are:
Price
Quantity demanded
(millions per week)
Quantity supplied
(millions per week)
40
170
90
50
160
100
60
150
110
70
140
120
80
130
130
90
120
140
100
110
150
110
100
160
a. What are the equilibrium price and equilibrium quantity of
hot dogs?
b. If the price for hot dogs were 90 cents, describe the
situation in the market for hot dogs and explain what would...
Price Market Quantity Demanded Social Quantity Demanded ($) (units per month) (units per month) 20 10...
Price
Market Quantity Demanded
Social Quantity Demanded
($)
(units per month)
(units per month)
20
10
20
18
20
30
16
30
40
14
40
50
12
50
60
10
60
70
b. Does this product have external
benefits or external costs?
External benefits
c. How large ($) is that
externality?
? per unit
The quantity demanded x (in units of a hundred) of the Mikado miniature cameras/week is related...
The quantity demanded x (in units of a hundred) of the Mikado
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by p = −0.2x^2 + 220 and the quantity x (in units of a hundred)
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If the market price is set at the equilibrium price, find the
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The quantity demanded x of a certain brand of DVD
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(a)...
Suppose that the quantity demanded of visits to a doctor per year is given by 10X...
Suppose that the quantity demanded of visits to a doctor per
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How many visits would the patient make if he or she had to pay
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How many visits would a patient make if he or she was insured
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Price (RM)
Quantity demanded (tonnes)
Quantity supplied (tonnes)
1
90
30
2
75
45
3
60
60
4
45
75
5
30
90
6
15
105
(a) What is the equilibrium price and quantity? [4 marks] (b)
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Price per DVD
Quantity of DVD's
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Quantity of DVD's
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$ 8
18 DVD's
7DVD's
9
16
10
10
13
13
11
10
20
12
9
24
13
7
26
14
5
29
a) Draw the demand and supply curves on the same graph.
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d) What happens to...
Consider the following information regarding the quantity of corn demanded and supplied per month at a...
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quantity demand
quantity supplied
$.40
39,000
83,000
$.35
48,000
78,000
$.30
58,000
74,000
$.25
67,000
67,000
$.20
75,000
62,000
$.15
81,000
59,000
What is the equilibrium price? What is the equilibrium
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Describe the situation when the price is at $.40 per bushel and
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