Question
In questions 16-18 use these values in the multivariate demand function for Grapple tablets: P g = $500P h = $800P r = $700P dv
In questions 16-18 use these values in the multivariate demand function for Grapple tablets:
Pg= $500Ph= $800Pr= $700Pdv= $50Psc= $100Pmm= $30Ag= 40
A = $100,000C = 2Y=$30,000
16.After the values above are entered into your demand function, what quantity of Grapple tablets will be demanded?Be very careful with this calculation.This value will be used again below.
17.What is the point price elasticity of demand for Grapple tablets at the above price (Pg)?Show the values you use in the formula and work out completely.Be sure to show the sign.Does this value indicate a very sensitive (elastic; responsive) relationship?The formula is:E=(dQg/dPg) x (Pg/Qg)
18. What is the point cross-price elasticity of Grapple tablets with respect to the above price of Ronovo tablets (Pr)?Show the values you use in the formula and work out completely.Be sure to show the sign.Does this value indicate a very sensitive (elastic; responsive) relationship ?The formula is:E=(dQg/dPr) x (Pr/Qg)
19.Write the first derivative of the following function Z=50 + 2X^2 - 4X^3 + 5X^5
20.Write the first derivative of the following function Y=100 + 6X^3 - 5X^-2 + 7X^2/3
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