The Estimated Supply Function for biltong in garankung Q=178+40p-60 ph per households 405 R1.50 to R3.00 R1050 (a) How does the supply FUNCTION Change if if the game meat doubles from Q=178 +40p -60 ph 178 +40p - 60 (1.50) 178 +40p-90 Guppy) 178-90 88+40PX Q=178+40p- 60 Ph 178 +40p - 60 (3) чор 178 + 40P - 180 118-180 A don't e- graphically! supply. 52 Hddns Q R3. 3+1:30 4.5 118+ чор-60 178 +40p- 178 +40p- 178-270 -9
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- Co. XYZ manufactures a productand sells it for $8 per unit. Her fixedcosts are $5,000 and her variablecost per unit is given by the equationCalculate the equilibrium quantity qalgebraically. 2.444 (X)-2200 A. (q-800) B. q=900 C. (q 650) D. None of the above In the previous problem (27), calculate the amount ofequilibrium Total Income. A. 4,500 B.$3,000 C. $7,200 D. $9,000 In the above problem (27), calculate thebreak-even Total Cost amount. A. 4,500 B. $3,000 C. $9,200 D. 7,200 In the previous problem (27)determine the profit when q-1800.modes of A. $4,500 B. 5,000 C.$6,000 D. 7,000 In the previous problem (27), determine the gain when q-450. A. $2,500 B. -$2,500 C.$6,000 D. -$4,500 In the aboveproblem (27), find the required output (q), to make a profit of$10,000. A. 3,000 B. 4,000 C. 2,500D. 2,700Q2 The market equilibrium price and quantity of a good may be found by solving the simultaneous equations: Q + 3P = 48 (1) Q – 2P = 30 (2) (a) Explain which of these equations represents the supply curve and which represents the demand curve. (b) If the demand curve were to be drawn with Q on the horizontal axis and P on the vertical axis, state the values of the slope and vertical intercept. (c) Determine the equilibrium price and quantity algebraically.ect of the utility commission's ruling on the profitability of the firm? 15 A company estimates that the demand for its product fluctuates with the price it charges. The demand function is q = 280,000 – 400p where q equals the number of units demanded and p equals the price in dollars. The total cost of producing q units of the product is estimated by the function C = 350,000 + 300q + 0.0015q? (a) Determine how many units q should be produçed in order to maximize annual profit. (b) What price should be charged? (c) What is the annual profit expected to equal? 16 Solve the previous exercise, using the
- Given the demand functions, (iii) P = 45 (a) Write down the equations for TR. (b) Calculate the number of units which must be sold to maximize TR. Calculate the maximum TR. (c) State the values of Q at which MR and AR are zero.(3 points) When sold for $259,000.00, Ferraris have an annual supply of 6758 vehicles and an annual demand of 6691 vehicles. When their price increases to $279,000.00, the annual supply increases to 6913, and the demand decreases to 6010 billion gallons. (a) Assuming that the supply and demand equations are linear, Afind the supply and demand equations. Supply Equation p = Demand Equationp (Note: The equations should be in the form p = mg + b where p denotes the price (in dollars) and q denotes the quantity. The slope and y-intercept should be accurate to two decimal places). (b) Find the Equilibrium price and quantity. Equilibrium price p = Equilibrium quantity q = (Note: The equilibrium price and quantity should be accurate to two decimal places, and the equilibrium price should include a dollar sign).PB PA The demand equations for related products A and B are given by QA = 10 and 96 PB quantities of A and B demanded, and PA and pe are the corresponding prices (in dollars) per unit. (a) Find the values of the two marginal demands for product A when PA = 16 and p = 9. (b) If pg is reduced to 7 from 9, with PA fixed at 16, use part (a) to estimate the corresponding change in demand for product A (a) Find the marginal demand for A with respect to PA. Select the correct choice below, and fill in the answer box to complete your choice. (Simplify your answer.) A. B. ap A A JªA ap A where 9A and q are the =
- COURSE: MICROECONOMICS - TAX REGULATIONS The local diesel market is represented by Q = (912 - P)/12.5 and Q = (P - 315)/11where P is in dollars (USD) per liter of fuel and Q shows liters of fuel (in millions). Currently a tax of USD 130 per liter of diesel is charged.It is requested:(a) Calculate the amount (Q) that is transacted after the tax has been applied. Already solve few hours agob) Show in detail the calculations of a). Is there any difference between the price observed by suppliers and demanders? If so, what is the price observed by the producer and what is the price observed by the consumer? how much is the government's revenue? If there is an efficiency loss, how much is it? Already solve few hours agoc) At present, there are arguments in favor of increasing the tax on diesel and others in favor of decreasing it (at least temporarily). Mention at least ONE argument in favor of increasing this tax and ANOTHER argument in favor of decreasing it. And finally, conclude in…COURSE: MICROECONOMICS - TAX REGULATIONS The local diesel market is represented by Q = (912 - P)/12.5 and Q = (P - 315)/11where P is in dollars (USD) per liter of fuel and Q shows liters of fuel (in millions). Currently a tax of USD 130 per liter of diesel is charged.It is requested:(a) Calculate the amount (Q) that is transacted after the tax has been applied.b) Show in detail the calculations of a). Is there any difference between the price observed by suppliers and demanders? If so, what is the price observed by the producer and what is the price observed by the consumer? how much is the government's revenue? If there is an efficiency loss, how much is it? GRAPHc) At present, there are arguments in favor of increasing the tax on diesel and others in favor of decreasing it (at least temporarily). Mention at least ONE argument in favor of increasing this tax and ANOTHER argument in favor of decreasing it. And finally, conclude in favor of which argument you are in favor of.When sold for $260,000.00, Ferraris have an annual supply of 6431 vehicles and an annual demand of 6518 vehicles. When their price increases to $276,000.00, the annual supply increases to 6907, and the demand decreases to 5886 billion gallons. (a) Assuming that the supply and demand equations are linear, find the supply and demand equations. Supply Equation p = Demand Equation p = (Note: The equations should be in the form p = mq + b where p denotes the price (in dollars) and q denotes the quantity. The slope and y-intercept should be accurate to two decimal places). (b) Find the Equilibrium price and quantity. Equilibrium price p = Equilibrium quantity q = (Note: The equilibrium price and quantity should be accurate to two decimal places, and the equilibrium price should include a dollar sign).
- Suppose that a wholesaler expects that his monthly revenue, in dollars, for an electronic game will be R(x) = 110x – 0.12x², 0 < x < 800 %3D where x is the number of units sold. Find his marginal revenue and interpret it when the quantity sold is the following. (a) x = 300 2$ Interpret the marginal revenue. O The sale of the 301st unit results in a loss of this amount. O This is the additional revenue from the 300th unit. O The sale of the 300th unit results in a loss of revenue of this amount. O This is the additional revenue from the 301st unit. (b) X = 700 %3D Interpret the marginal revenue. O This is the additional revenue from the 300th unit. O The sale of the 700th unit results in a loss of revenue of this amount. O The sale of the 701st unit results in a loss of this amount. O This is the additional revenue from the 701st unit. %24The demand function for a crrtain product is giving by p=500+1000/(Q+1). where p is tje price and q is the number of units demand. Fimd the average price as demand ranges from 49 to 99Sampson Ltd produces two products that can be produced on either of two machines. Each month, only 5o0 hours of time are available on each machine. The time required to produce each item by hour and machine is: Machine Machine Product 1 Product 2 3 4 Month Month 1 Month 2 Month 1 Demand Demand Price Price Product 1 100 160 $45 $65 $10 Product 2 120 110 $35 The demand and price point for each product that customers are willing to pay are above. The company goal is to maximize revenue from sales from the next two months. Based on the provided information, how many constraints does this problem have excluding the non-negativity constraints?