The quantity demanded of a certain product, q, is given in terms of p, the price, by

Question:

q = 1000e^−0.02p

(a) Write revenue, R, as a function of price.
(b) Find the rate of change of revenue with respect to price.
(c) Find the revenue and rate of change of revenue with respect to price when the price is $10. Interpret your answers in economic terms.

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: Apr 12, 2023 04:52 AM

See More Questions

1. Income tax payments are an example of __________. a. implicit costs b. explicit costs c. normal return on investment d. shareholder wealth e. none of the above 2.A change in the level of an...
1. The following relations describe demand and supply. Q = 700 - 100P (1) Q = -100 + 100P (2) Where P is price in dollar and Q is quantity in unit. a. Which equation (1) or (2), is demand equation...
which you describe and reflect on one of your favorite pop culture artifacts. Your goals will be simple: you will describe in detail a popular film, tv show, ad campaign, performer, song,...
How can the return and standard deviation of a portfolio be determined? Compare the calculation of a portfolios standard deviation to that for a single asset.
What role can visual materials play in ethnography?
In research on artificial insemination of cows, a series of semen samples from each of six bulls was tested for the ability to produce conceptions (Snedecor and Cochran, 1989, Chapter 13, Section...
McKeekin Corp. has a project with the following cash flows: Year Cash Flow 0 ..................... $20,000 1 ...................... -26,000 2 ....................... 13,000 What is the IRR of the...
JPMorgan Chase stock has a standard deviation of 22% and a beta of 1.4. Goldman Sachs stock has standard deviation 31% and beta of 1.2. Which of these statements is true? a- Goldman Sachs has less...
With t in years since 2016, the height of a sand dune (in centimeters) is f(t) = 700 3t 2 . Find f(5) and f(5). Using units, explain what each means in terms of the sand dune.
For Problems let (x) = f(g(x)) and k(x) = g(f(x)). Use Figure 3.21 to estimate the derivatives. '(2) -3 3 -3 A 3 f(x) X g(x) -3 3 -3 3 X
LIFO method of inventory valuation on cost basis is suitable for items that are (a) Perishable (b) Expensive (c) Non-perishable (d) None of the above
The following information is available for two different types of businesses for the 2011 accounting period. Dixon Consulting is a service business that provides consulting services to small...
Marino Basket Company had a $\$ 6,200$ beginning balance in its Merchandise Inventory account. The following information regarding Marino's purchases and sales of inventory during its 2011...
On March 6, 2011, Bob's Imports purchased merchandise from Watches Inc. with a list price of $\$ 31,000$, terms $2 / 10, n / 45$. On March 10, Bob's returned merchandise to Watches Inc. for...
The following events apply to Tops Gift Shop for 2012, its first year of operation: 1. Acquired $\$ 45,000$ cash from the issue of common stock. 2. Issued common stock to Kayla Taylor, one of the...
Indicate whether each of the following costs is a product cost or a period (selling and administrative) cost. a. Transportation-in. b. Insurance on the office building. c. Office supplies. d. Costs...
Identify three forms of e-government e-commerce.
You are planning to purchase your first home five years from today. The required down payment will be $50,000. You currently have $20,000. but you plan to contribute $500 each quarter to a special...
Does drinking hot chocolate boost the memory in older people? A random sample of people around the age of 73 was recruited. All had some form of cognitive deterioration. Half the participants drank...
Michigan States Collegiate Employment Research Institute collected data from mid-August to mid-September, tapping the employment offices at 200 schools, which gathered tarting salary data from 3,300...
Is it true that an apple a day keeps the doctor away? A study designed and conducted by the National Health and Nutrition Examination Study (results published in the Journal of the American Medical...
Required : a- outline the statement of comperhensive income for the year ended 30 november 2021 b- outline the statment of financial position as at 30 November The Trial Balance of Alim Enterprise at...
International business and environment The MIR requires teams to gather current, or the most recently available, data on the markets people, economy, government, and technological status from online...
Consider the following stream of cash flows. The interest rate is 10%. 0 1 2 3 4 5 6 7 100 100 100 200 0 300 300 300 a) What is the value at time 0 of the cash flow stream? b) What is the value of...

The quantity demanded of a certain product, q, is given in terms of p, the price, by

Question:

Step by Step Answer:

a Rp p 1000e 002p 1000pe 002p b Rp 1000e 002p 1000pe 002p ...View the full answer

Applied Calculus

Students also viewed these Mathematics questions