The demand for a product is given in Problem 42. Find the revenue and the derivative of

Question:

The demand for a product is given in Problem 42. Find the revenue and the derivative of revenue with respect to price at a price of $10. Interpret your answers in economic terms.

In Problem 42

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

See More Books

Question Posted: Aug 10, 2023 09:41 AM

See More Questions

If p is price in dollars and q is quantity, demand for a product is given by q = 5000e 0.08p . (a) What quantity is sold at a price of $10? (b) Find the derivative of demand with respect to price...
A. Set up a table or spreadsheet for CSI, that illustrates the relationships among quantity (Q), price (P), the optimal level of advertising (A), the advertising-sales ratio (A/S), and sales revenue...
iScream Ice Cream Co. iScream is a Chicago start-up that sells ice cream in several mobile ice cream trucks. The main innovative feature of their business is the implementation of a smart phone app...
Locate the centroid of the region bounded by the given curves. about x = 5, y = 2x2, y = 0, x = 5 < UseHorizontal ElementOf Area > x = 5 y = 2x? y = 0
Annual cash inflows from two competing investment opportunities are given below. Each investment opportunity will require the same initial investment. Required: Compute the present value of the cash...
A 7-bit DAC obeys Eq. (4.1) and has a voltage reference of 2.56 V. a. What is its resolution? b. What is its output if the input is 100 0101? c. What is its output if the input is 0x2A? d. What is...
What is a cause-and-effect diagram, and why is it useful? LO.1
Nathan sells gourmet hot dogs. His customers have identical inverse demands, given by P = 5 .25Q. Nathan can produce hot dogs at a constant marginal and average cost of $1. a. If Nathan operates as...
Chec The shareholders' equity section of the balance sheet of TNL Systems Inc. Included the following accounts at December 31, 2020: Shareholdere Equity Common stock, 200 million shares at $i par...
Use the graph in Figure 2.7 to decide if each of the following quantities is positive, negative or approximately zero. Illustrate your answers graphically. (a) The average rate of change of f(x)...
Graph the functions described in parts (a)(d). (a) First and second derivatives everywhere positive. (b) Second derivative everywhere negative; first derivative everywhere positive. (c) Second...
How could each of the following reforms reduce the frequency of financial crises? a. Quick release of detailed, accurate information on the debt and official reserves of most developing countries. b....
Find the linear approximation at the given point: f(x) = cos(4x-) at x =
The labor costs of complying with national regulations in order to remain a certified provider of testing products and services to oil producers. GeoTest creates, calibrates and installs devices used...
Mrs. Cora Yank (age 42) is divorced and has full custody of her 10-year-old son, William. Mrs. Yank works as a medical technician in a Chicago hospital. Her salary was $38,400, from which her...
Midterm Project This assignment relates to the following Course Learning Requirements: CLR 1: Explain the basic components of a computer system in an office. CLR 3: Use an e-mail account and...
Sarah Young is planning to attend a billing conference in the next two months. Her place of employment will reimburse her for the conference price. Sarah should use which cash management for the...
Compute the 2017 tax liability and the marginal and average tax rates for the following taxpayers (use the 2017 tax rate schedules in Appendix A for this purpose). a. Chandler, who files as a single...
Portal Manufacturing has total fixed costs of $520,000. A unit of product sells for $15 and variable costs per unit are $11. a). Prepare a contribution margin income statement showing predicted net...
Using the second applet, press the New Sample button 35 times. You have now generated 35 samples from the process and the means are shown on the chart. Does the process appear to be in control? If...
Continuing with the second applet, press the New Sample button 65 more times to reach the limit of 100 consecutive samples. Describe the condition of the process during these last 65 samples. If the...
Reload the two mean charts and repeat Applet Exercises 1 through 4. In what way(s) were the results similar and in what way(s) were they different the second time around?
ABC Corporation has an activity - based costing system with three activity cost pools - Machining, Setting Up , and Other. The company's overhead costs, which consist of equipment depreciation and...
Consolidated Balance Sheets - USD ( $ ) $ in Thousands Dec. 3 1 , 2 0 2 3 Dec. 3 1 , 2 0 2 2 Current assets: Cash and cash equivalents $ 9 8 , 5 0 0 $ 6 3 , 7 6 9 Restricted cash 2 , 5 3 2 Short -...
How does corporate governance contribute to investor confidence and stakeholder trust? Accounting

The demand for a product is given in Problem 42. Find the revenue and the derivative of

Question:

If p is price in dollars and q is quantity, demand for a product is given by q = 5000e-0.08p (a) What quantity is sold at a price of $10? (b) Find the derivative of demand with respect to price when the price is $10 and interpret your answer in terms of demand.

Step by Step Answer:

First lets calculate the quantity sold at a price of 10 using the demand function given Given demand ...View the full answer

Applied Calculus

Students also viewed these Mathematics questions