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In: Math
The Price-Demand equation regarding sales of a certain product is modelled as Q=8000-20p+0.05p2 a) Differentiate with...
The Price-Demand equation regarding sales of a certain product is modelled as
Q=8000-20p+0.05p2
a)
Differentiate with respect to the variable t on both sides of the equation (using implicit differentiation)
B).to obtain a differential equation relating the rates of change of Q and p with respect to t.
If the price, p, is decreasing at a rate of $0.50/week, at what rate is the Demand changing when the current price is $20 ?
C).If the demand, Q, is increasing at a rate of 240/week, at what rate is the price changing when the current price is $40 ?
Solutions
milcah answered 2 years agoRelated Solutions
Assume that the quantity demanded (Q) for a certain good is Q = 1000 − 20p,...
Assume that the quantity demanded (Q) for a certain good is Q =
1000 − 20p, where p is the price in dollars. Assume that 0 ≤ p ≤
50.
(A) Graph the demand curve. Put p on the horizontal (x)
axis.
(B) Is the demand a monotonic function of p? Is it continuous?
Smooth?
(C) Find the inverse demand function by solving for p in terms
of Q.
(D) Graph the demand curve. This time, put p on the...
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Currently, the demand equation for necklaces is Q = 30 – 4P. The current price is...
Currently, the demand equation for necklaces is Q = 30 – 4P. The
current price is $10 per necklace. Is this the best price to charge
in order to maximize revenues? If not, what is?
Solve for the best price to charge in order to maximize
revenues. Show any steps or processes used to reach the answer
above. Explain your process as though you are teaching the concept
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The demand price for a certain brand of CDs is modeled by the
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The elasticity of demand of this product at a price of
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is?
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At a price of
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is this product elastic, inelastic, or unit elastic?
Given the demand equation and MC in problem # 1 (demand equation: Q = 40 –...
Given the demand equation and MC in problem # 1 (demand
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Question 4 a) The demand for cameras in a certain country is given by D=8000-30P, where...
Question 4
a)
The demand for cameras in a certain country is given by
D=8000-30P, where P is the price of a camera. Supply by domestic
camera producers is S=4000+
10P. If this economy opens to trade while the world price of a
camera is$50, what will be the quantity of cameras that this
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A. 2000 exports
B. 3000 exports
C. 2000 imports
D. 3000imports
b)
Suppose Australia has an annual 6%inflation rate,while the
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