A price p (in dollars) and demand x for a product are related by 2 x^2...

A price p (in dollars) and demand x for a product are related by 2 x^2 + 2 x p + 50 p^2 = 20600. If the price is increasing at a rate of 2 dollars per month when the price is 20 dollars, find the rate of change of the demand. Rate of change of demand

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milcah answered 2 years ago

8. The price p (in dollars) and the demand x for a particular wool sweater are...

8. The price p (in dollars) and the demand x for a particular wool sweater are related by the equation p = 100 − 0.025x a. Find the domain of this function. Show all work and clearly label the answer below. b. Find the revenue R (x) = x · p , from the sale of x wool sweaters and state the domain of the function R (x) . c. Find the marginal revenue at a production level of 1,600...

A price pp (in dollars) and demand xx for a product are related by 2x2+8xp+50p2=7400 If...

A price pp (in dollars) and demand xx for a product are related by 2x2+8xp+50p2=7400 If the price is increasing at a rate of 2 dollars per month when the price is 10 dollars, find the rate of change of the demand. Rate of change of demand =

The demand for product X depends on the price of product X as well as the...

The demand for product X depends on the price of product X as well as the average household income (Y) according to the following relationship Qdx = 400 - 15 P + 0.001Y The supply of product X is positively related to own price of product X and negatively dependent upon W, the price of some input. This relationship is expressed as: Qsx = 190 + 30 P - 3 W Given that Y = 45,000 and W = 9,...

The price-demand equation for a particular product is f(p)=850−3p2. The elasticity of demand of this product...

The price-demand equation for a particular product is f(p)=850−3p2. The elasticity of demand of this product at a price of $13 is?

Demand for good X is X = 100 – 4P, where P is the market price...

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The demand for mysterious good X in Lansing is Q=12-P, where P is the price of good X per pound and Q is the quantity demanded in pounds. The marginal cost of producing the good is $2 per pound. There is no fixed cost of producing the good. There are two firms, Alice and Bob, who can produce the good. A) Find Alice's best response function. B) Find Bob's best response function. C) Find each firm's Nash equilibrium quantity. D)...

The price-demand equation for a particular product is f(p)=850−3p2. At a price of $14 is this...

The price-demand equation for a particular product is f(p)=850−3p2. At a price of $14 is this product elastic, inelastic, or unit elastic?

Problem X A,B: The market demand for a product is given by P = 30 ?...

Problem X A,B: The market demand for a product is given by P = 30 ? 3Q. Assume the marginal cost of production is constant, MC = 6. a) What is the optimal two-part tariff for a producer on this market? What is the resulting profit? b) Assume now that there are two groups of consumers, one with the demand given above, and another group with a higher demand given by P = 30 ? 2Q. Also, assume marginal cost...

Demand in Market 1 for X is Qd = 80 – p. Demand in Market 2...

Demand in Market 1 for X is Qd = 80 – p. Demand in Market 2 is Qd = 120 – 2p. At a price of $20, which has a larger consumer surplus?

2. If the demand function for X is Q = 100 - P, and the supply...

2. If the demand function for X is Q = 100 - P, and the supply function for X is Q = 40 + 2P, determine the effects on: (a) equilibrium price, (b) quantity traded and (c) government revenue (or cost) if: A tax of $ 6 per unit produced is established. (Is it different from the case of establish a tax of $ 6 per unit consumed?)

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