Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 6 16 pts A marketing consultancy is planning to sell a new app for small business that would help the businesses tailor their marketing

image text in transcribed
Question 6 16 pts A marketing consultancy is planning to sell a new app for small business that would help the businesses tailor their marketing plans. Market research suggests that if they sell the app subscriptions for $1000 per year, they will be able to sell 2,500 annual subscriptions. For each $100 reduction in price, they estimate they will sell 500 more annual app subscriptions. Assuming the quantity demanded is linearly related to price: (A) Determine the function x (p) that describes the demand for a annual subscriptions in terms of the annual subscription price p. Answer: x (P) (B) In your work document, write a brief description of each symbol and number in your equation (A) in the context of the question. (C) Calculate x(200) and explain in your work document what the answer represents in the context of the question. x (200) = Next

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Economic Relations Since 1945

Authors: Catherine R Schenk

2nd Edition

1351183567, 9781351183567

More Books

Students also viewed these Economics questions

Question

Determine miller indices of plane A Z a/2 X a/2 a/2 Y

Answered: 1 week ago