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Economics of Enterprise
A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is
p = $38 +2,700/D −5,000/D2, for D > 1,
where p is the price per unit in dollars and D is the demand per month.
The company is seeking to maximize its profit. The fixed cost is $1,000 per month and the variable cost (Cv) is $40 per unit.
a. What is the number of units that should be produced and sold each month to maximize profit?
b. Show that your answer to Part (a) maximizes profit
Economics of Enterprise
Demand for Orange Juice is given as
Qd = 5000 – 2500 P + 1200 I + 650 E – 255 Ps
Suppose Income is I = Rs.500, Expectations E = 55, and Price of Ps = Rs 25.
a. Find the Demand Equation.
b. Using the demand function from part a.,
Calculate Elasticity of Demand for price range of Rs.125 and Rs.155.
c. What will be the ‘Price Elasticity of Demand’ at P = Rs.125?
d. Interpret the Elasticity of Demand calculated in (C) above.
Qd = 5000 – 2500 P + 1200 I + 650 E – 255 Ps
Suppose Income is I = Rs.500, Expectations E = 55, and Price of Ps = Rs 25.
a. Find the Demand Equation.
b. Using the demand function from part a.,
Calculate Elasticity of Demand for price range of Rs.125 and Rs.155.
c. What will be the ‘Price Elasticity of Demand’ at P = Rs.125?
d. Interpret the Elasticity of Demand calculated in (C) above.
Economics of Enterprise
what would happen to the demand curve for movie tickets if the cost of making movies increased sharply?
Economics of Enterprise
what would happen to the demand of movie tickets if the cost of making movies increased sharply?
Economics of Enterprise
You
Which other government agency or department will work closely with FED to ensure the US’s economy functions well
Which other government agency or department will work closely with FED to ensure the US’s economy functions well
Economics of Enterprise
Explain the statement
Workers' productivity over a given period of time is a function of innate ability, the level of effort, and the environment
Workers' productivity over a given period of time is a function of innate ability, the level of effort, and the environment
Economics of Enterprise
Which is riskier, buying or selling a “put?”
Economics of Enterprise
A. For Kabelo, a consumer of bread and sorghum will be in equilibrium
position if the marginal rate of substitution between the two goods is equal
to ratio of prices of the two goods.’’ Do you agree with the given
statement? Justify your answer. (10 marks).
position if the marginal rate of substitution between the two goods is equal
to ratio of prices of the two goods.’’ Do you agree with the given
statement? Justify your answer. (10 marks).
Economics of Enterprise
A business firms sells a good at the price of Rs 450.The firm has decided to reduce the price of good to Rs 350.Consequently, the quantity demanded for the good rose from 25,000 units to 35,000 units. Calculate the price elasticity of demand.
Economics of Enterprise
True or false demand curve sgift to the right when demand increases
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#340153 on Dec 2023
#340153 on Dec 2023