Question
In the questions 16-18 use these values in the multivariate demand function for Grapple tablets: P g = $500P h = $600P r = $600P
In the questions 16-18 use these values in the multivariate demand function for Grapple tablets:
Pg = $500Ph= $600Pr = $600Pdv = $25Psc = $50Pmm = $30Ag = 40
A = $100,000C = 2Y=$30,000
Qg = 31,027
17.What is the point income elasticity of demand for Grapple tablets at the above income level (Y)? 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/dY * Y/Qg
18. What is the point advertising elasticity of Grapple tablets at the above level of advertising expenditures (A)? 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/dA * A/Qg
19.Write the first derivative of the following function for the following function:
R =15-3T+4T^2-6T^3
20.Write the first derivative of the following function
Q =6-P^2+P^(3/4) -P^5
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