Suppose your demand function is given by D(q) = - q - 2q + 517, where...

   

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Suppose your demand function is given by D(q) = - q - 2q + 517, where q is thousands of units sold and D(g) is dollars per unit. Compute the following, showing all calculations clearly. A) If 7000 units are to be sold, what price should be charged for the item? Price = $ B) If a price of $194 is set for this item, how many units can you expect to sell? You can sell whole units (Your answer should not be terms of thousands of units). C) At what value of a does D(g) cross the g axis? (When you give your answer, round your answer to three decimal places) It crosses at q = thousand units. Suppose your demand function is given by D(q) = - q - 2q + 517, where q is thousands of units sold and D(g) is dollars per unit. Compute the following, showing all calculations clearly. A) If 7000 units are to be sold, what price should be charged for the item? Price = $ B) If a price of $194 is set for this item, how many units can you expect to sell? You can sell whole units (Your answer should not be terms of thousands of units). C) At what value of a does D(g) cross the g axis? (When you give your answer, round your answer to three decimal places) It crosses at q = thousand units.

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To find the price for 7000 units plug q 7 into the demand function and solve ... View the full answer