Suppose that Billie obtained a hi-fi system and turntable during the pandemic. Furthermore, suppose that, each month, Billie's demand for vinyl records is described by Q = 40 - 4P (and

their inverse demand curve is described by P = 10 - 0.25Q), where Q is quantity of new vinyl records per month and P is price per record. Given this demand curve, what is the most that

Billie would be willing to pay for a subscription service where they must pay a fixed fee and can then obtain as many vinyl records as desired each month?

O $50

O $100

O $200

O $300

O $400

u alISVCI Choices very Calcully: Film, F... UnreadBrittany Nic... @ Free Vectors, Stock... Epidemic Sound -... FootageCrate: Free.. ule 4 Good luck! ule 5 Timed Test This test has a time limit of 2 hours. This test will save and submit automatically when the time expires. ule 6 Warnings appear when half the time, 5 minutes, 1 minute, and 30 seconds remain. Multiple Attempts Not allowed. This test can only be taken once. ule 7 Force Completion This test can be saved and resumed at any point until time has expired. The timer will continue to run if you leave the test. ule 8 Your answers are saved automatically. se Calendar Remaining Time: 57 minutes, 40 seconds. rades Question Completion Status: QUESTION 1 2 points Suppose that Billie obtained a hi-fi system and turntable during the pandemic. Furthermore, suppose that, each month, Billie's demand for vinyl records is described by Q = 40 - 4P (and their inverse demand curve is described by P - 10 - 0.25Q), where Q is quantity of new vinyl records per month and P is price per record. Given this demand curve, what is the most that Billie would be willing to pay for a subscription service where they must pay a fixed fee and can then obtain as many vinyl records as desired each month? $50 $100 $200 $300 O $400 2 points QUESTION 2 Suppose Apple has started production on a new virtual reality headset. Unsure of how much to charge for the headset, they hire a consulting firm to estimate demand. The consulting firm finds that demand is described by Q = 10,000 - 5P (and inverse demand is described by P = 2,000 - 0.2Q), where Q indicates quantity of headsets sold and P denotes price in US dollars. If the marginal cost of producing the headsets is constant at $400 what price should they charge? $1,200 Save All Answers Save and Click Save and Submit to save and submit. Click Save All Answers to save all answers. P M3_Competitive..pptx P M3_Perfect comp....pptx M2_Economies of..pptx M2_Profit maximi.pptx 3_A practice pr....pptx P M3_Firm and mar...pptx P W o Type here to search insert delete prisco home end 2 F8 F9 DI F4 F6 (") F3 F5 esc ' F2 @