In the questions 16-18 use these values in the multivariate demand function for Grapple tablets: P= = $500 Ph= $600 P. = $600 Pac = $25 Pac = $50 Room = $30 A= = 40 A = $100,000 C =2 Y=$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. 19401 28902 31027 35902 38902 40152 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 (write a one sentence comment)? The formula is: E = BY Q. Work elasticity out in detail, give your calculations below. Next, write a one sentence comment addressing the question asked. 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 (write a one sentence comment)? The formula is: E = QaTlie multivariate demand function below will be needed for Questions 1213. Setting: Grapple= Inc. is a leading seller of laptop personal computers. However, they want to become a leading tablet seller, too. Your marketing department= aided by your economics sta', has estimated a function to help you in the quest for market leader in tablets. The variables are defined after the Jnction. IEta:1I'.III'.'.'I'J![.'! 25Pa+ 2Fh+ 30Pr15Fm 35P10Pmm+ .5A s+ DJJSA 25': + (1.1T $25 = the number of Grapple tablet computers demanded per week. Pg = the price of each new Grapple tablet (in $3]. PI; = the price of each W tablet {in 5;). E; = the price of each W tablet. Egg: the price to equip a tablet with Holographic digital video {in 3, this is an upgrade option that enables threedimcnsional graphics on a tablet. Mmensmnal graphics is standard equipment). R5; = the price of various screen sizes {in S, g 8 inch is standard, but upgrade options are 10 inch extra sharp, 12 inch, 12 inch extra sharp= Each also has a touchscreen option. The upgrades get progressivelyr more expensive as the size and capability increases). Ems; = the price of memory chip upgrades (in 90}. More 2 Gigabyte (Gb) chips can be added. crusts: each added 2 Gb chip costs more. One 2 Gb chip is standard. Y = average annual disposable income of a typical tablet purchaser (in '5). Ag = average age of a tablet purchaser (in years). A = average annual Grapple advertising expenditure (in '3}. G = number of computer systems the average tablet purchaser already owns