Question

In: Math

A deli sells 480 sandwiches per day at a price of $ 4 each. A market...

A deli sells 480 sandwiches per day at a price of $ 4 each. A market survey shows that for every $ 0.20 reduction in the original $ 4 ​price, 10 more sandwiches will be sold. Now how much should the deli charge in order to maximize​ revenue?

Please make sure it is the right answer. THanks!

Solutions

Expert Solution

if satisfied with the explanation, please rate it up..

milcah answered 2 years ago
Next > < Previous

Related Solutions

Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of...
Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of workers in this industry is upward-sloping, so that wages increase as industry output increases. Delis in this market face the following total cost: TC = q3 - 20 q2 + 120 q + W where, Q = number of sandwiches W = daily wages paid to workers The wage, which depends on total industry output, equals: W = 0.3 Nq where, N = number...
Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of...
Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of workers in this industry is upward-sloping, so that wages increase as industry output increases. Delis in this market face the following total cost: TC = q3 - 10 q2 + 60 q + W where, Q = number of sandwiches W = daily wages paid to workers The wage, which depends on total industry output, equals: W = 0.3 Nq where, N = number...
Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of...
Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of workers in this industry is upward-sloping, so that wages increase as industry output increases. Delis in this market face the following total cost: TC = q3 - 15 q2 + 90 q + W where, Q = number of sandwiches W = daily wages paid to workers The wage, which depends on total industry output, equals: W = 0.2 Nq where, N = number...
Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of...
Suppose that the market for gourmet deli sandwiches is perfectly competitive and that the supply of workers in this industry is upward- sloping so that wages increase as industry output increases. Delis in this market face the following total cost: TC=q3-15q2 +90q+W where Q = number of sandwiches W = daily wages paid to workers. The wage, which depends on total industry output, equals W = 0.2 Nq where N = number of firms. Assume that the market demand is:...
Chicken Sandwiches (CS) Qcs Store 1 Quantity of chicken sandwiches sold per day Price CS Price...
Chicken Sandwiches (CS) Qcs Store 1 Quantity of chicken sandwiches sold per day Price CS Price H A = Advertising expenditures in thousands of dollars I = After tax Income per week 1 1000 3.59 3 20 280 2 1100 3.39 2.89 16 280 3 1050 3.39 2.29 12 300 4 2000 2.99 2.69 20 450 5 2200 2.79 3 22 460 6 2100 2.49 3 22 450 7 1900 2.97 3 21 320 8 1100 3.49 2.59 16 280...
1. Suppose the market for gourmet deli sandwiches is perfectly competitive and that the supply of...
1. Suppose the market for gourmet deli sandwiches is perfectly competitive and that the supply of workers in this industry is upward sloping, meaning wages increase as industry output increases. Delis in this market face the following: Total cost = Q^(3) - 20 Q^(2) + 40 Q + W where Q is number of sandwiches and W is the daily wage paid to workers. The wage, which depends on total industry output equals W= 0.2 NQ where N is the...
A car rental agency rents 480 cars per day at a rate of ​$30 per day....
A car rental agency rents 480 cars per day at a rate of ​$30 per day. For each ​$11increase in​ rate,10 fewer cars are rented. At what rate should the cars be rented to produce the maximum​ income? What is the maximum​ income?
Trish receives $480 on the first day of each month. Josh receives $480 on the last...
Trish receives $480 on the first day of each month. Josh receives $480 on the last day of each month. Both Trish and Josh will receive monthly payments for next 3 years. At a 9.5 percent annual rate, compounded monthly, what is the highest present value amount?
Assume that MTA Sandwiches sells sandwiches for $3.40 each. The cost of each sandwich follows: Materials...
Assume that MTA Sandwiches sells sandwiches for $3.40 each. The cost of each sandwich follows: Materials $ 0.70 Labor 0.70 Variable overhead 0.30 Fixed overhead ($19,580 per month, 17,800 units per month) 1.10 Total cost per sandwich $ 2.80 One of MTA's regular customers asked the company to fill a special order of sandwiches at a selling price of $2.30 each for a fund-raising event sponsored by a social club at the local college. MTA has capacity to fill it...
Assume that MTA Sandwiches sells sandwiches for $3.25 each. The cost of each sandwich follows. Materials...
Assume that MTA Sandwiches sells sandwiches for $3.25 each. The cost of each sandwich follows. Materials $ 0.80 Labor 0.30 Variable overhead 0.40 Fixed overhead ($26,280 per month, 21,900 units per month) 1.20 Total costs per sandwich $ 2.70 One of MTA's regular customers asked the company to fill a special order of sandwiches at a selling price of $2.05 each for a fund-raising event sponsored by a social club at the local college. MTA has capacity to fill it...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT