Given a linear supply function of the form Q = -10 + 5Px, find the invers function. Select one or more: □ a. Px = -5+ (1/10)Q b. P, = 5+ (1/2)0 c. P = 2 + (1/5)Q; □d. P, = 10 + (1/5)Q □e. P = -2 +50%
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- Consider the general supply function Qs = 60+5P-12Pi+10F Derive the equation of the supply function when Pi = 90 dollars and F = 20.The demand function for a certain product is determined by the fact that the product of the price and the quantity demanded equals 8000. The product currently sells for $2.20 per unit. Suppose manufacturing costs are increasing over time at a rate of 18% and the company plans to increase the price p at this rate as well. Find the rate of change of demand over time. Find the demand function represented in this problem where p is the price of the product and q is the quantity demanded for the product. (Type an equation.)The inverse supply function for soda is PS = 4 + QS. The inverse demand function for soda is PD = 12 - QD. The quantity of soda bought and sold with a $4 tax on production is: Typed and correct answer please. I ll rate
- The demand function is described by the equation q(p) - 130-p/5. The inverse demand function is described by the equation A. p(q) = 650-5q. OB. p(q)- 1/130-q/5. C. q(p) - 130-5p. D. q(p)=1/(130-p/5). E. p(q)- 130-q/5. Reset SelectionThe number x of bicycle helmets a retail chain is willing to sell per week at a price of $p is given by x = 80/p + 25 – 350, 20I. Given the production function Q = AK“LF, find the partial derivatives with respect to K and L and give their economic interpretation. (10) Given the demand for beef Qy = 4850 – 5Pp + 1.5 Pp + 0.1 Y, where Y = 10 000 Py = 100, and the price for pork P, = 100. - a) Find the income elasticity of demand for beef? b) Find the cross price elasticity of demand for beef? c) Estimate the A% in demand for beef resulting from a 10% increase in the price for pork?A toy company is trying to determine the optimal price for their weekly supply to meet the demand for a toy they are about to release. They estimate that the supply function follows p= 0.006q^2 + 0.14q+ 8.62 and the demand function follows p= -1.25q+ 65 , where p is the price of the toy (in dollars) and q is the weekly quantity of the toy (in hundreds). If the company tries to sell the toy for $24, will there be a shortage or surplus of toys each week?MK Corp estimates that its demand function is as follows: Q = 400 - 12:5P + 25A + 14Y+ 10P* where Q is the quantity demanded per month, P is the product’s price (in Rs.), A is the firm’s advertising expenditure (in Rs.’000 per month), Y is per capita disposable income (in Rs’000), and P* is the price of AJ Corp. a. During the next five years, per capita disposable income is expected to increase by Rs. 5,000 and AJ is expected to increase its price by Rs 12. What effect will this have on the firm’s sales volume? b. If MK wants to change its price by enough to offset the above effects, by how much must it do so? c. Compare the profitability of maintaining sales volume by either changing price or changing advertising spending. d. If MK’s current price is $60 and it spends $10,000 per month on advertising, while per capita income is $25,000 and AJ’s price is $70, calculate the price elasticity of demand with the price change. e. What can be said about the effect of the above price change…Consider the horizontal sum of the two demand curves P = 8- Q and P = 12- Q. When 8Let ={ ag? + 4, 92 2, Į 3q + 1, 0 2, be the demand function for a manufacturer's product, where q is the number of product units demanded and p is the price per unit in dollars. Assume also that p is continuous on the interval (0, ). Then when five units are demanded, an increase of one extra unit demanded corresponds to A. an increase of approximately $7.5 in the price per unit that consumers are willing to рay. B. a decrease of approximately $6 in the price per unit that consumers are willing to pay. C. an increase of approximately $4.5 in the price per unit that consumers are willing to раy. D. a decrease of approximately $1 in the price per unit that consumers are willing to рay. E. no change in the price per unit that consumers are willing to payBread demand function: Q = 100 + 0,5 1 - 30P1+ 20P2, where Q is the annual value of demand; I is income; P1 is the price of bread; P2 is the price of pasta. Define : 1) the function of the annual demand for bread with an income of 10 thousand rubles per month and the price of pasta 250 rubles per 1 kg; 2) the price at which the demand for bread will be zero. Construct the demand curve for bread.If E denotes the elasticity of a general supply function, Q = f(P), show that the elasticity of: (1) Q = [f(P)]" is ne (ii) Q = Af(P) is E (ii) Q = A + f(P) is f(P)E λ + f(P)SEE MORE QUESTIONSRecommended textbooks for you
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