1.Q = 12S^1/2P^-2. Q is number of newspapers sold and S is number of inches of news printed. The cost of reporting S units is $10S. The cost of printing one copy of the newspaper is $0.08, so the total cost of Q = $10S + .08Q.
Using fact that MR = P(1+1/price elasticity), what is profit maximizing price for newspaper? Don't use dollar sign.
2. Q = 12S^1/2P^-2. Q is number of newspapers sold and S is number of inches of news printed. The cost of reporting S units is $10S. The cost of printing one copy of the newspaper is $0.08, so the total cost of Q = $10S + .08Q.
How many copies will be sold at the profit maximizing price when S = 100? Round (up) to the nearest newspaper.
Answers
1. Profit-maximizing price for the newspaper is (500 + √(250000 - 20000S)) / 2.
2. Approximately 2,907 copies will be sold at the profit-maximizing price when S = 100.
How to find the profit-maximizing price?We need to find the price elasticity of demand (PED) and then use it to calculate marginal revenue (MR).
PED = (% change in quantity demanded) / (% change in price)
\(PED = (dQ/Q) / (dP/P)\)
\(PED = (1/2)(S^{1/2})(P^{-2}) / (-2)(S^{1/2})(P^{-3})\)
\(PED = -P / 4S\)
Now we can calculate MR:
\(MR = P(1+1/PED)\)
\(MR = P(1 - P/4S)\)
1. To find the profit-maximizing price, we need to set MR equal to marginal cost (MC):
\(MR = MC\)
\(P(1 - P/4S) = 10 + 0.08P\)
\(P - P^2/4S = 125\)
\(P^2 - 500P + 5000S = 0\)
Using the quadratic formula, we get:
P = (500 ± √(500² - 4(1)(5000S))) / (2(1))
P = (500 ± √(250000 - 20000S)) / 2
Since we cannot have a negative price, we take the positive square root:
P = (500 + √(250000 - 20000S)) / 2
Therefore, the profit-maximizing price for the newspaper is (500 + √(250000 - 20000S)) / 2.
2. When S = 100, we can substitute it into the demand equation to find the quantity demanded at the profit-maximizing price:
\(Q = 12S^1/2P^{-2\)
\(Q = 12(100)^{1/2}[(500 + \sqrt{(250000 - 20000(100)} )) / 2]^{-2}\)
Q ≈ 2,907
Therefore, approximately 2,907 copies will be sold at the profit-maximizing price when S = 100.
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Related Questions
Classify each of the listed statements as either positive or normative.a. Firms can increase sales by lowering product prices. b. Lower tax rates encourage more work and more saving. c. Economic development should not take place at the expense of social Justice.
Answers
Firms can increase sales by lowering product prices and Lower tax rates encourage more work and more saving is positive and Economic development should not take place at the expense of social Justice is normative.
Tax rates are the percentage of income, sales, or property value that individuals and organizations must pay to the government in taxes. These taxes are used to fund public goods and services, such as roads, schools, and law enforcement. Tax rates can vary depending on the type of tax and the jurisdiction in which it is collected. In many countries, individuals and organizations are subject to progressive tax systems, in which tax rates increase as income or wealth increases. This is designed to ensure that those who can afford to pay more contribute a larger share of their income to support public goods and services. Tax rates can also vary based on the type of goods and services being purchased.
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The emphasis of the Second New Deal was on a.economic recovery, creating government programs to address the immediate needs of the unemployed. b.protecting the rights of businesses, especially small businesses. c.economic security, in an effort to protect Americans against poverty and unemployment. d.civil rights for African-Americans.
Answers
The correct answer is A) economic recovery, creating government programs to address the immediate needs of the unemployed.
The emphasis of the Second New Deal was on economic recovery, creating government programs to address the immediate needs of the unemployed.
The Second New Deal included new programs to extend federal aid and stimulate the nation's economy, such as the Rural Electrification Administration.
In the decade of 1930s, rural America had no electricity and clear water. The Rural Electrification Administration hired Lester Beall, a graphic designer that created a series of posters describing the benefits of electrification for the communities.
Another example is President Roosevelt’s works progress administration of 1935 that considered many infrastructure programs for the benefit of the U.S. citizens. He also considered the Federal Project Number One. This was a program aimed to help writers, musicians, and artists. Roosevelt aimed to get jobs for these people in order to entertain the American citizens during those difficult times.
Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as:.
Answers
Online content that has been created and posted by unpaid contributors such as customers or fans of a product or service is referred to as User-generated content.
User-generated contentUGC for short is content that is created, published or submitted by users of a brand. In numerous cases, it's the most influential content for brands. Usually, contributors are unpaid fans who encourage a brand instead of the brand promoting itself.
Online users are evolved increasingly savvy in knowing which companies are using messy marketing tactics, and which ones are being genuine and evident.
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Q. 2:- Choose the correct answer :-
1-The muslim must belive that the seal of the Prophets and the
Messenger of Allah is
a) Musa (A.S.)
b) lyaas (A.S.)
c)Muhammed (S.A.W.)
2-The dominating book over all other heavenly Books is
a) At-Taurat
b) Al- Quran
C) Al- Injeed
3- Whoever believes that the Quran is not the last heavenly book sent
down is regarded as
a)An Outsider of the religion of Islam.
b)A muslim.
c)A weak of faith.
Answers
Answer:
1) Muhammad (S.A.W)
2) Al- Quran
3) A muslim
Determine whether the demand for the following product is likely to be elastic or inelastic Demand for cola is likely to be
Answers
Determine whether the demand for the following product is likely to be elastic or inelastic. Demand for cola is likely to be inelastic.
Inelastic demand refers to a situation where a change in price has a relatively small impact on the quantity of a good demanded. In the case of cola, it is a common and relatively inexpensive product with few close substitutes, meaning consumers are less likely to be price sensitive when choosing whether or not to purchase cola. Therefore, changes in the price of cola are unlikely to result in a significant change in the quantity demanded. Additionally, many consumers may have a brand preference and be willing to pay a higher price for a particular brand of cola, further indicating that demand for cola is likely to be inelastic.Overall, the demand for cola is likely to be inelastic, which means that a change in price is unlikely to significantly impact the quantity of cola demanded by consumers.
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What are the definitive characteristics of ser demand
Answers
Answer:
Demand is called the economic factor by which market agents require a certain number of goods and / or services for consumption. Thus, the quantity of goods that these require is the quantity demanded.
Demand is directly influenced by two factors: the price of the good (the higher the price, the lower the demand, as the cost will be higher in relation to wages) and the quantity supplied (the higher the supply, the cheaper the good will be, as there will be availability for all consumers; on the contrary, the lower the supply, the more expensive the good will be as it will be subject to the laws of the market of supply and demand).
Production Possibilities for Sabrina's Soccer
10
Produced
Quantity of Soccer Balls
Quantity of Soccer Nets Produced
At which point on the graph are resources not used efficiently?
O point A
O point F
O point X
O point Y
Mark this and return
Next
Submit
Answers
The production possibilities graph for Sabrina's Soccer shows the maximum quantity of soccer balls and soccer nets that can be produced given the available resources. The graph has two axes, with soccer balls on the horizontal axis and soccer nets on the vertical axis. The graph has a downward slope, indicating the trade-off between producing one good over the other.
The answer to the question of at which point on the graph resources are not used efficiently is point X. Point X represents a combination of soccer balls and soccer nets that is below the production possibilities frontier, meaning that resources are not being used to their full potential. At point X, there is idle or unemployed resources that could be used to produce more soccer balls or soccer nets. The points on the production possibilities frontier (points A, F, and Y) represent the most efficient use of resources. In a Production Possibilities Curve (PPC), a point that is inside the curve represents inefficient use of resources. In this case, without the actual graph, it's impossible for me to accurately identify which specific point represents inefficiency. However, please check the graph for the point that lies inside the PPC, as that will be the point where resources are not used efficiently.
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Which sequence of HACCP principles is in the correct order?
A.
Establish critical limits for each CCP, conduct a hazard analysis, and establish corrective actions.
B.
Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP.
C.
Establish record-keeping procedures, establish corrective actions, and establish CCP monitoring requirements.
D.
Establish CCP monitoring requirements, conduct a hazard analysis, and identify CCPs.
E.
Conduct a hazard analysis, identify CCPs, and establish CCP monitoring requirements.
Answers
Answer:
B
Explanation:
Hazard analysis of critical control point (HACCP) is a process of identifying and assessing risks alongside the biological , physical and chemical hazards associated with food production .
The sequence of the first three of the seven principles are
1. Conduct hazard analysis to determine potential risks related to food protection
2. Identify the critical control point (CCP) which addresses controlling identified hazards that are mostly likely to cause injury to health
3. Establishing critical limits for each CCP , which is the highest or lowest level a biological ,physical or chemical parameter must be controlled to prevent or minimize hazards.
Answer:
B. Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP
Explanation:
If the price index moves from 107 to 110, the rate of inflation is: Group of answer choices 3% 30% 28% 2. 8%
Answers
If the price index moves from 107 to 110, the rate of inflation is 2.8 %.The percentage change in inflation is then calculated by multiplying this by 100.Option D is correct.
Evaluating:Rate of inflation = 110 - 107 ÷107
= 0.0280 × 100 %
= 2.8 %
How is the rate of inflation determined by price index?The price index from the interest year is subtracted from the base year, and then the result is divided by the base year to determine inflation. The percentage change in inflation is then calculated by multiplying this by 100.
If inflation is too high, what happens?The consumer price index (CPI) is used to measure inflation, which maintains economic health at low rates. But when inflation rises quickly, it can have negative effects on the economy in the form of lower purchasing power, higher interest rates, slower economic growth, and other things.
Question incomplete:If the price index moves from 107 to 110, the rate of inflation is:
a. 3%
b. 30%
c. 28%
d. 2.8%
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There is a specialty store that you like to go to when you are craving jelly beans. The price is reasonable at $1.30 per pound. The store is a bit of a distance away and you could purchase the same jelly beans at your neighborhood supermarket, but the cost is a little more at $2.10 per pound. You spend about $3 on gas every time you go to the specialty store. How do you know if you are getting enough of the jelly beans to make the trip worthwhile? What two equations would you use to determine your break-even point? (Let C stand for the total cost and x represent the amount of jelly beans.)
Answers
Answer:
-You know if you are getting enough of the jelly beans to make the trip worthwhile when the amount you purchased makes the total cost at the specialty store lower than the total cost at the supermarket and this is when you purchase more than 3.75 pounds of jelly beans.
-The two equations would be:
C=1.30x+3
C=2.10x
Explanation:
From the information given, the total cost at the specialty store would be the result of multiplying the price per pound for the number of pounds plus the amount you spend in gas everytime you go there, which is:
C=1.30x+3
Also, the total cost at your neighborhood supermarket would be the result of multiplying the price per pound for the number of pounds:
C=2.10x
Now, you can say that the price at the specialty store is equal to the price at the supermarket and solve for x to find the amount of jelly beans that would make the total cost at both places the same which would be the break-even point:
1.30x+3=2.10x
3=2.10x-1.30x
3=0.8x
x=3/0.8
x=3.75
You know if you are getting enough of the jelly beans to make the trip worthwhile when the amount you purchased makes the total cost at the specialty store lower than the total cost at the supermarket and this is when you purchase more than 3.75 pounds of jelly beans. Also, the two equations would be:
C=1.30x+3
C=2.10x
What is the formula for consumer surplus and producer surplus?
Answers
Consumer surplus and producer surplus are measures used in microeconomics to evaluate the welfare of clients and producers in a marketplace. The formulation for calculating consumer surplus and Producers surplus are as follows:
Customer Surplus:
Customer surplus is the distinction between the most charge a purchaser is willing to pay for a good or service and the actual rate they pay. Mathematically, consumer surplus can be expressed as:
CS = WTP - P
Producer Surplus:
Producer surplus is the distinction between the fee a manufacturer gets for a good or service and the minimum fee they may be willing to accept. Mathematically, producer surplus may be expressed as:
PS= P - WTA
These formulations are crucial tools for studying marketplace efficiency and understanding the distribution of advantages in a market.
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because a hot water supply must alos heat some pipe mass as it is turned on the water does not come out hot right awawt
Answers
Correct, the hot water supply must heat the pipes before the water can come out hot. This is because the pipes are typically made of metal, which is a Good conductor of heat.
When the hot water supply is turned on, the metal pipes will absorb some of the heat from the water, causing the water to come out at a lower temperature initially. It is not until the pipes have been heated up that the water will come out at the desired temperature. This is why there is usually a delay before hot water comes out of the faucet.
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Suppose Britain experiences unusually strong GDP growth and a rapid increase in its Consumer Price Index (CPI). Answer the following questions about what would most likely result:
Note: the British currency is called the pound.
· What specific monetary policy action would Britain’s central bank – their “Fed” – take?
· How would American investors react to the Bank of England’s action?
· How would the Americans’ actions impact the foreign exchange market? Explain what happens to both currencies and use the proper vocabulary.
· How would the changes in the foreign exchange market affect John, the owner of a British hotel who usually has many American guests?
· How would the changes in the foreign exchange market affect the American balance of trade?
Answers
In response to the strong GDP growth and rapid increase in the Consumer Price Index (CPI), Britain's central bank, the Bank of England, is likely to implement contractionary monetary policy.
The Consumer Price Index (CPI) is a measure of the average price level of goods and services purchased by households over time. It is one of the most commonly used indicators of inflation and is published by the government statistical agencies in many countries.
The CPI tracks the changes in the prices of a basket of representative goods and services that are commonly consumed by households.
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twila, age 32, lives alone, is single, and earns $10,250. her adjusted gross income is $10,950. she is not the qualifying child of another person. twila is not eligible to claim the eic?
Answers
Twila's eligibility for the Earned Income Credit (EIC) depends on several factors, including her income, filing status, and whether she has any qualifying children.
Based on the information provided, Twila is single and has an adjusted gross income (AGI) of $10,950. The maximum income limit for EIC eligibility for a single filer without qualifying children in 2021 is $15,980. Since Twila's AGI is below this limit, she may be eligible for the EIC.
However, there are other eligibility criteria for the EIC that need to be considered. One of the main requirements for the EIC is that the taxpayer must have earned income. In 2021, the maximum EIC amount for a single filer without qualifying children is $1,502. The exact amount of the EIC that Twila may be eligible for will depend on her earned income, which is not provided in the question.
Additionally, the EIC has rules regarding age and dependency status. To claim the EIC, the taxpayer must be at least 25 years old but under 65 years old at the end of the tax year, and must not be the qualifying child of another taxpayer. Based on the information provided, Twila meets these requirements.
Therefore, it is possible that Twila may be eligible for the EIC, but her exact eligibility and the amount of the credit will depend on her earned income. She should consult a tax professional or use tax software to determine her eligibility and claim the credit if she is eligible.
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in which situation does an agent have the least exposure to liability?
Answers
An agent has the least exposure to liability in a situation where they are acting within the scope of their authority, and the principal is fully disclosed.
This means that the agent is acting on behalf of the principal, and the identity of the principal is known to the other party involved in the transaction. In this situation, any liability that arises from the transaction is typically borne by the principal, not the agent.For example, if a real estate agent is working on behalf of a seller and fully discloses the seller's identity to a prospective buyer, the agent would have minimal exposure to liability if something went wrong with the transaction, such as a dispute over the condition of the property. The buyer would typically seek recourse against the seller, not the agent.
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Suppose Hondamaha, a motorcycle manufacturing firm headquartered in Japan, builds a production plant in Arizona. This is an example of foreign investment in the United States. Which of the following policies are consistent with the goal of increasing productivity and growth in developing countries? Check all that apply. - Providing tax breaks and patents for firms that pursue research and development in health and sciences - Increasing taxes on income from savings- Protecting property rights and enforcing contracts - Pursuing inward-oriented policies In less developed countries, what does the term brain drain refer to? - Rapid population growth that increases the burden on the system - The emigration of highly skilled workers to rich countries - Lower productivity due to a malnourished workforce - Rapid population growth that lowers
Answers
The following policies are consistent with the goal of increasing productivity and growth in developing countries:
Providing tax breaks and patents for firms that pursue research and development in health and sciencesProtecting property rights and enforcing contractsThe correct options are A and C.
What are productivity and its benefits?Productivity is a metric of economic or business performance that indicates how effectively individuals, businesses, industries, and entire economies convert inputs such as labor and capital into outputs such as goods or services.
Pursuing inward-oriented policies in less developed countries may not be consistent with the goal of increasing productivity and growth, as it can limit access to foreign markets and foreign investment, which can be important sources of capital, technology, and expertise. Increasing taxes on income from savings can also discourage investment and savings, which can reduce economic growth.
Thus, the ideal selection is options A and C.
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NGPF Activity Bank Paying for College
5.4 COMPARING the types of student loans
PLEASE HELP ME WITH THIS I HAVE TO TURN IN TODAY I NEED A ANSWER ASAP
Answers
There are generally two types of student loans: federal student loans and private student loans. The federal student loan is given below.
How much can a student get a student loan?Education loans are intended to pay for living expenses while the borrower is pursuing a degree, as well as tuition, books, and supplies.
As there is no cap on the largest debt that may be approved under the student loan program. The maximum amount for NRI students is Rs. 20 lakhs, and for elite institutions, Rs. 30 lakhs.
Federal student loans: These loans are provided by the government and provide a number of advantages, including reduced interest rates, repayment schedules based on income, and loan forgiveness opportunities. Federal student loans come in a variety of forms, including Direct Subsidized Loans: Undergraduate students who can prove they have a need for the money can apply for these loans. When the student is enrolled in school, the government covers the interest on these loans. Direct Unsubsidized Loans: These loans can be obtained by graduate and undergraduate students alike and don't need proof of need. While the student is enrolled in school, interest is accruing on these loans. Graduate students and parents of dependent undergraduate students may apply for Direct PLUS loans. They have higher interest rates and demand a credit check than other loan plans.Learn more about loans, here:
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Competent team performance is always a demonstration of respect for the team leader.
True
False
Answers
Answer: False
Explanation: took the quiz
an instance that would give rise to burden-on-commerce problems would be if ___________.
Answers
An instance that would give rise to burden-on-commerce problems would be if there are excessive or overly restrictive regulations, policies, or practices that hinder or impede the smooth flow of commerce and trade.
These burdens can include excessive bureaucracy, complex administrative procedures, high regulatory compliance costs, trade barriers, protectionist measures, or discriminatory practices. Such obstacles can create barriers to entry, limit market access, increase transaction costs, and hinder the efficient operation of businesses, thereby negatively impacting commerce and economic growth.
Burden-on-commerce problems can have detrimental effects on economic growth, investment, innovation, and job creation. Governments and policymakers often strive to strike a balance between necessary regulations and ensuring a conducive environment for businesses to thrive and contribute to overall economic development.
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When a calendar is made public, then anybody with the calendar's URL can: A. Modify the calendar. B. Delete the calendar. C. Change the calendar. D.View the calendar. E. Edit the calendar.
Answers
A calendar is made public, then anybody with the calendar's URL can View the calendar. The correct option is (D).
What do you understand by the calendar?A calendar is a diagram or object that shows the date, the day of the week, and frequently the entire year, broken down into months, weeks, and days.
An electronic calendar establishing reminders and notifications for significant events. setting aside time so that you can work uninterruptedly on important things. connecting to other mobile devices so you can always easily access your calendar.
Calendars are practical tools for remembering impending appointments, due dates, and achievements. They can assist you in seeing your schedule clearly and serve as a reminder of significant occasions, including work holidays and vacation days.
Therefore, a calendar is made public, then anybody with the calendar's URL can View the calendar.
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a company budgets overhead cost of $8,538,500 for the next year. the company uses machine hours as its overhead allocation base. if 430,000 machine hours are planned for the next year, what is the company's plantwide overhead rate?
Answers
The company's plantwide overhead rate, based on budgets overhead cost and machine hours as its overhead allocation base is $19.86 per machine hour.
The company's plantwide overhead rate can be calculated by dividing the total budgeted overhead cost by the total planned machine hours.
Determine the company's plantwide overhead rate as follows:1. Identify the total budgeted overhead cost: $8,538,500
2. Identify the total planned machine hours: 430,000 hours
3. Calculate the plantwide overhead rate:
Budgeted Overhead Cost / Total Machine Hours
Using the given numbers:
Plantwide Overhead Rate = $8,538,500 / 430,000
Plantwide Overhead Rate = $19.8558 (rounded)
So, the company's plantwide overhead rate is approximately $19.86 per machine hour.
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Market penetration pricing and market skimming pricing are typically used at which stage of a product’s life cycle?
A. introduction
B. growth
C. maturity
D. decline
E. ideation
Answers
Answer:
A. introduction
Having just graduated with a degree in business, Brianna looks over several offers she has received from companies interested in her talents. She is specifically interested in the wage setup each company is offering. One wants her to manage a small store; this would be a salaried position. Another would have her working in a sales office on commission. The third is a spot in a paper company as an hourly sales manager. Brianna has been offered a chance to do per-project work for a retail company, but she would be an independent contractor. Compare and contrast these
Answers
Answer:She's just getting started financially and decides not to join her field's major professional association because she thinks it's not worth the annual fee.
Explanation:There u GO!!<3:)
the simplest form of business is a sole proprietorship.
Answers
The simplest form of business is a sole proprietorship.
The sole proprietorship is a business structure where an individual owns and operates the business alone and assuming all the risks and rewards.
The sole proprietorship requires minimal legal formalities and allows for direct control and decision-making by the owner.
The owner has unlimited liability and meaning their personal assets are at risk in case of business liabilities.
The sole proprietorships may face challenges in accessing financing and lack the advantages of shared resources and expertise found in larger organizations.
The question is incomplete, the complete question is here:
The simplest form of business is a sole proprietorship. Define the sole proprietorship.
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A reclaimed T-shirt scarf sells for $43 and costs $24. Find the markup percent. Round to the nearest tenth of a percent. For 75.1% answer 75.1.
Answers
Rounded to the nearest tenth of a percent, the markup percent is 79.2%. calculate the difference between the selling price and the cost, and then express that difference as a percentage of the cost.
Markup percent is a measure of the difference between the selling price of a product or service and its cost, expressed as a percentage of the cost. It indicates the percentage increase or markup added to the cost in order to arrive at the selling price.
Markup percent is calculated using the following formula:
Markup percent = (Markup ÷ Cost) × 100
Markup = Selling Price - Cost
Markup = $43 - $24 = $19
Markup percent = (Markup ÷Cost) × 100
Markup percent = ($19 / $24) * 100 ≈ 79.2%
Rounded to the nearest tenth of a percent, the markup percent is 79.2%.
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Sarah is going to buy a house in 6 years. Today the house of her dream costs $201,000. The price of the house growing at an annual rate of 4.14 percent compounded annually. How much will the house of her dream cost in 6 years
Answers
The house will cost approximately $253,081.03 in 6 years.
To calculate the future cost of the house in 6 years, we can use the compound interest formula.
First, let's convert the annual rate of 4.14% to decimal form, which is 0.0414.
The formula for compound interest is: A = P(1 + r)^n, where A is the future amount, P is the present amount, r is the interest rate, and n is the number of years.
In this case, the present amount is $201,000, the interest rate is 0.0414, and the number of years is 6.
Plugging these values into the formula, we get: A = 201000(1 + 0.0414)^6.
Evaluating this expression, we find that the house of her dream will cost approximately $253,081.03 in 6 years.
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When dealing with credit cards, it is important to know your card’s _______________.
Answers
it is important to know your credit card pin
Select the correct answer from each drop-down menu. when the value of a country’s currency falls, the currency is , so one unit of that currency can buy units of other currency.
Answers
When the value of a country’s currency falls, the currency is depreciating, so one unit of that currency can buy fewer units of other currency.
What is effect of a currency depreciation?When there is a depreciation of a country's currency, its makes its export goods cheaper for foreigners and domestic residents find that foreign imports are more expensive.
Hence, the effect is that when the currency is depreciating, one unit of that currency can buy fewer units of other currency.
Therefore, the correct dropdown includes depreciating & fewer.
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Answer:depreciating & fewer.
Explanation:
Plato
how many liters of motor oil does the u.s. import given that the us government has imposed a tariff on the import of motor oil?
Answers
Knowing the fact that the government has set a levy on the import of gasoline, the US imports 273 Million Barrels of motor oil.
The structure of the US government.The U.S. Constitution grants Congress, the Head of state, and the Higher courts, respectively, the authority to act as the legislative, executive, and appellate departments of the federal government.
The U.S. has what kind of government, and why?The Constitution establishes a system of government that is a federal democratic republic. In all other respects, we are an unbreakable union of 50 separate States. In a democracy, the populace controls the government. Because voters select representatives in a free and secret election, it is representational.
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suppose the demand function for movies for college students is: = p and for other town residents is: = p. part 2 the town's total demand function is:
Answers
The town's total demand is Q = 75 - 0.375p.
To find the town's total demand, we need to add the demand functions for college students (Q_1) and other town residents (Q_2) together.
The demand functions are:
Q_1 = 50 - 0.250p (college students)
Q_2 = 25 - 0.125p (other town residents)
Hence,
1: Add the two demand functions together:
Q = Q_1 + Q_2
2: Substitute the demand functions into the equation:
Q = (50 - 0.250p) + (25 - 0.125p)
3: Combine like terms:
Q = 50 - 0.250p + 25 - 0.125p
4: Simplify the equation:
Q = 75 - 0.375p
So, the town's total demand function for movies is Q = 75 - 0.375p.
Note: The question is incomplete. The complete question probably is: Suppose the demand function for movies for college students is: Q_1 = 50 - 0.250p and for other town residents is: Q_2 = 25 - 0.125p. The town's total demand is Q = ____.
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