The price p a book company charges for its most recent book is related to the demand q in weekly sales by the equation 100pq+q² = 5,000,000.
Suppose the price is set at $40, which would make the demand 1,000 copies per week.
a) Using implicit differentiation, compute the rate of change of demand with respect to price, and interpret the result. (Round the answer to two decimal places.)
b) Use the result of part (a) to compute the rate of change of revenue with respect to price. Should the price be raised or lowered to increase revenue?

Answers

Answer 1

a) the rate of change of demand with respect to price is -0.63

b) the price in this project should be lowered to increase revenue.

a) The equation representing the relationship between the price p a book company charges for its most recent book is related to the demand q in weekly sales can be expressed as $100pq+q^2 = 5,000,000$.

Arranging the given equation in terms of q, we get:

q² = 5000000 − 100pq⇒ q = (5000000 − 100pq)^(1/2)

Differentiating w.r.t. p, we get:

q = (5000000 − 100pq)^(1/2)⇒ dq/dp = (1/2)(5000000 − 100pq)^(-1/2) . (-100q) + (dq/dp) = -50q/(5000000 - 100pq)^0.5

Multiplying by dp, we get:

dp/dq = - (5000000 - 100pq)^(0.5) /50q

Using the given values:

q = 1000 copies/weekp = $40

Plugging in these values in the above equation, we get:

dp/dq = - (5000000 - 100*40*1000)^(0.5) /50*1000

dp/dq = - 0.6326

Hence, the rate of change of demand with respect to price is -0.63 and this means that if the price is raised by $1, then the demand will fall by 0.63 copies per week.

b) The revenue generated can be calculated as R = pq. The rate of change of revenue with respect to price can be calculated as follows:

dR/dp = (dq/dp)*p + q

Using the values we calculated in part a, we get:

dR/dp = (-0.6326)*40 + 1000dR/dp = 974.96

Since the value is negative, this means that revenue is maximum when the price is reduced. Therefore, the price should be lowered to increase revenue.

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Related Questions

Discuss the role of the father in attachment theory

Answers

Explanation:

Both parents are considered attachment figures in attachment theory, and the child-father attachment is autonomous from the child-mother attachment. Whereas mothers are commonly involved in caregiving and providing emotional refuge, fathers are particularly involved in play and exploratory undertakings.

A person has income $1000 for goods F and S. The price of F is $4, and the price of S is $200. Which of the following bundles is in the opportunity/budget set (i.e., attainable)?
Select one:
a.
150 units of food, 3 units of shelter
b.
100 units of food, 10 units of shelter
c.
200 units of food, 2 units of shelter
d.
200 units of food, 1 unit of shelter
e.
250 units of F and 1 unit of shelter

Answers

The bundle that is attainable is option e. 250 units of F and 1 unit of shelter.

Option e is the only bundle that falls within the person's budget constraint. The person has an income of $1000, and the price of F is $4. Therefore, the person can afford a maximum of $1000/$4 = 250 units of F. Additionally, the person can afford 1 unit of shelter since its price is $200, which is within their budget.

Option a is not attainable because the person cannot afford 150 units of food and 3 units of shelter within their budget. Option b is also not attainable because the person cannot afford 100 units of food and 10 units of shelter. Option c exceeds the person's budget since they cannot afford 200 units of food and 2 units of shelter. Option d also exceeds the budget as the person cannot afford 200 units of food and 1 unit of shelter.

Therefore, the only option that falls within the person's budget constraint and is attainable is e. They can purchase 250 units of F and 1 unit of shelter.

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for human services pleaseeeeeeeeeeee help <3

for human services pleaseeeeeeeeeeee help &lt;3

Answers

Answer:

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identify the term for the economic system in which the government owns all factories and farms, and individuals do not own property.

Answers

A command economy is a crucial component of a political system in which the quantity of output that is permitted and the prices that may be paid for goods and services are determined by a government.

What is a Command economy?

Private businesses or individuals are prohibited from freely producing the goods and services in a command economy also called as socialist economy. And production takes place under the direction of the State or the Planning Authorities and in accordance with societal needs. There will be no role for the market or the supply and demand variables. The ultimate goal of a socialist economy is to maximize the wealth of a whole community or nation. It seeks to ensure the wellbeing of all its citizens, not just the wealth of its wealthiest businesses and people.

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who benefits form medicare taxes?

Answers

Answer: The Medicare tax rate is 1.45% of an employee's gross income. The Medicare tax, which is a charge on both employers and employees, is paid by both.

Which of the following costs should be excluded from research and development expense?

a. Acquisition of R&D equipment for use on a current project only
b. Cost of marketing research for a new product
c. Modification of the design of a product
d. Engineering activity required to advance the design of a product to the manufacturing stage

Answers

Answer:

can you help me with my problem

The Law of Demand states that
a. with an increase in the price, the quantity demanded increases.
b. with an increase in the price, the quantity demanded decreases.
c. quantity demanded does not change with any increase in price.
d. with an increase in price, demand decreases.

Answers

The Law of Demand states that with an increase in price, the quantity demanded decreases. The correct option is b.

The Law of Demand is a fundamental concept in economics that describes the inverse relationship between the price of a product and the quantity demanded by consumers. According to this law, when the price of a good or service increases, ceteris paribus (assuming all other factors remain constant), consumers tend to demand a smaller quantity of that good or service. This inverse relationship between price and quantity demanded can be explained by the behavior of consumers.

When the price of a product rises, consumers typically seek alternatives or reduce their consumption to mitigate the impact on their budgets. Higher prices can also signal a decrease in the perceived value or affordability of a product, leading to a decrease in demand. On the other hand, when the price of a product decreases, consumers generally find it more affordable and are inclined to buy more, resulting in an increase in the quantity demanded. Overall, the Law of Demand helps economists and businesses understand how changes in price affect consumer behavior and market demand.

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Which of the following statements is TRUE?

A. Your portfolio should have a higher allocation toward bonds
and cash equivalents right before you retire.

B. You should try to maximize your investment earnings right
before you retire.

C. Both A and B

D. Neither A nor B

Answers

a) Your portfolio should have a higher allocation toward bonds and cash equivalents right before you retire

If I am to leave a place at 12:00 am and it is 9:35 am now, How long until I leave at twelve?

Answers

If you leave at 12 am and it is 9:35 am that would be a full 14 hours and 25 minutes

What strategy is the portfolio manager of a mutual fund employing when call options are being sold on stock that's held in the portfolio?

Answers

The strategy for the portfolio manager of a mutual fund to employ when call options are being sold on a stock that's held in the portfolio is :

A neutral strategy that's considered a conservative means of generating income when prices are stable.

A mutual fund is a company that collects money from many investors and invests that money in securities such as stocks, bonds, and short-term borrowings. The combined holdings of a mutual fund are called a portfolio. Investors buy shares in mutual funds.

Mutual funds work by pooling money from many investors. This money is used to purchase stocks, bonds, and other securities. Because mutual funds invest in a range of companies, they offer investors immediate diversification (and therefore less risk).

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An animator needs a laptop for audio/video editing and can pay $2600 for a Dell XPS laptop or lease from the manufacturer for monthly payments of $75 each for four years. The animator can borrow at an interest rate of 14% APR compounded monthly. What is the cost of leasing the laptop over buying it outright

Answers

If the animator chooses to borrow the $2600 needed to buy the laptop outright, they will need to pay $66.28 in interest each month, which amounts to a total cost of $3181.12 over four years.

Buying the laptop outright for $2600 means the animator will pay the full cost upfront. However, if they choose to lease the laptop, they will pay $75 per month for four years, which amounts to a total cost of $3600.
To compare the two options, we need to calculate the cost of borrowing the money needed to buy the laptop outright. At an interest rate of 14% APR compounded monthly, the effective monthly interest rate is 1.17%. Therefore, if the animator chooses to borrow the $2600 needed to buy the laptop outright, they will need to pay $66.28 in interest each month, which amounts to a total cost of $3181.12 over four years.
Comparing the total costs of buying and leasing, we see that buying the laptop outright costs $2600 + $3181.12 = $5781.12, while leasing the laptop costs $3600. Therefore, leasing the laptop is more cost-effective than buying it outright, saving the animator $2181.12 over four years.
However, it is important to note that leasing the laptop may come with restrictions or additional fees, such as early termination fees or restrictions on customization. Additionally, if the animator plans to use the laptop for longer than four years, buying it outright may be a more cost-effective option in the long run.

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Issues related to fairness and honesty may arise because business is sometimes regarded as a.

Answers

Issues related to fairness and honesty may arise because business is sometimes regarded as a competitive environment. In a competitive environment, businesses strive to outperform their rivals to gain market share, attract customers, and maximize profits.


One issue that can arise is deceptive advertising, where businesses may present misleading or false information about their products or services to attract customers. This practice not only harms the trust between the business and the consumer but also undermines fair competition among businesses.
Another concern is price fixing, where businesses conspire to set prices at a certain level, instead of allowing market forces to determine them. This practice is not only illegal but also unfair to consumers and other businesses that do not participate in such schemes.


Unfair treatment of employees is another issue that can arise in a competitive business environment. In an attempt to cut costs and increase profits, businesses may exploit their workers by paying them low wages, offering inadequate benefits, or subjecting them to unsafe working conditions. This is not only morally wrong but also violates labor laws and regulations.
Intellectual property theft is also a concern in the business world, where companies may steal ideas, designs, or trade secrets from their competitors to gain an advantage. This dishonest practice undermines fair competition and can lead to legal disputes and damage to a company's reputation.

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The second step in creating an effective social media campaign is to

measure success
plan the content of the campaign
distribute and promote the content
determine the objective of the campaign
plan the content of the campaign

Answers

The second step in creating an effective social media campaign is to Plan the content of the campaign. Therefore option 2 is correct.

When creating a social media campaign, planning the content is an essential step that comes after determining the objective of the campaign.

Plan the content of the campaign: Once the objective is established, the next step is to develop a content plan. This involves determining the type of content to be created, the messaging and tone, the format (e.g., text, images, videos), and the frequency of posting.

The content plan should align with the campaign objective and resonate with the target audience.

In summary, the second step in creating an effective social media campaign is to plan the content.

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How to invest in real estate from an investor who started with $5000.

Answers

Answer:

Explanation: i am not sure do hat you think is correct

When an employee is terminated, IS administrators should receive advance notice so that they can ________.

Answers

When the employee is terminated the IS administrators should receive advance notice so that they can remove the user account and password.

By terminated, this means that this employee has ceased to be a worker of the organization. As a person that no longer works there, it would be of no use for them to still have access to company facility.

If the user account and the password is not removed, this employee would be able to find his way into the database of the company. He would still have a hold on confidential information.

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unlike balance of trade, the balance of payments includes:____.

Answers

The balance of payments covers not only commodities and services transactions (balance of trade), but also financial activities like investments, loans, and transfers.

It depicts the net influx or outflow of financial resources and provides a comprehensive view of a country's economic dealings with the rest of the globe. The balance of payments is a record of a country's foreign transactions over a set period of time, often a year or a quarter. It encompasses both the trade balance and financial transactions. The trade balance is the difference between a country's exports and imports of products and services. The balance of payments also includes financial asset and liability transactions such as investments, loans, and cash transfers. These financial transactions can result in either a net inflow of financial resources, known as a surplus, or a net outflow of financial resources, known as a deficit. The balance of payments of a country is significant because it reveals information about its economic stability, competitiveness, and capacity to access foreign money. A balance-sheet excess.

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hurry please!!!giving brainliest!

hurry please!!!giving brainliest!

Answers

A. Slower than average

Answer:

A

Explanation:

companies use a predetermined overhead rate rather than an actual overhead rate because ______.

Answers

Companies use a predetermined overhead rate rather than an actual overhead rate because to get around this problem.

For businesses, using a predetermined overhead rate rather than an actual overhead rate can be beneficial in many ways.

Predetermined overhead rates provide a consistent and reliable estimate for the total overhead costs of a company, helping to ensure that sufficient funds are being allocated for these costs.

This type of rate also allows for easier budgeting since the amount of overhead costs is known in advance, rather than changing from project to project due to fluctuating actual costs. By using a predetermined overhead rate, companies can easily plan for and budget their overhead costs, helping them to stay on track financially.

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Why are aircraft carriers a thing? Why can’t there just be an airport on land only for military aircraft?

Answers

Answer:

Aircraft carriers are a vital component of modern naval warfare because they allow for military aircraft to operate far from land bases, providing a mobile platform for conducting a wide range of military operations.

Unlike land-based airports, aircraft carriers are not limited to fixed locations and can be moved to strategic locations in response to changing military requirements. This mobility provides significant advantages, as carriers can be deployed to various regions of the world, allowing for rapid response times and the ability to project power over long distances.

Additionally, aircraft carriers have the ability to launch and recover a large number of aircraft in a short amount of time, providing a significant force multiplier for military operations. They can be used for a variety of missions, including air support for ground troops, strike missions against enemy targets, and reconnaissance and surveillance operations.

Furthermore, an aircraft carrier can also serve as a mobile command center, allowing military commanders to conduct operations from the ship's command and control center, which provides an added level of flexibility and operational capability.

In summary, while land-based airports are certainly useful for military operations, aircraft carriers provide unique advantages that make them an essential part of modern naval warfare.

Explanation:

I had this exact question. This should get you a 100% grade.

What is the best definition of global trade?


when products, service and money are exchanged between English-speaking countries

when products, service and money are exchanged between states within the USA.

when products, service and money are exchanged between counties within a state

when products, service and money are exchanged between different countries

Answers

Answer:

fourth option

Explanation:

global trade is worldwide

it is the 4th option

explain the process of backward planning to create a career pathway?

Answers

List the steps in the career planning process
1. personal assessment
2. employment market analysis
3. application process
4. interview process
5. employment acceptance
6. career development and advancement

Hope this helps!

i was wondering...

has anyone seen my wallet? I got 200 bucks in there I could give you more if you find it and give it to me. really need it for school​

Answers

I doubt anyone here has seen your wallet. Check everywhere in your house and that you go frequently. Then look everywhere 19 more times... But do it like a list:

bedroombathroomkitchenetccheck 1-4 15 times, in that order.

Frank is an employee of guitar makers, llc. guitar's employee manual states that workers, such as frank, will be dismissed only for good cause. with respect to the employment-at-will doctrine, this is

Answers

Answer: An exception based on contract theory.

Explanation:

Contract theory is an agreement reached by two parties over a set of deal to be entered, these negotiation met guides what the agreement is all about, violators of the agreement would attract extra bodies(Law makers) to come into their decision. At Ilc, if the guitar producers only release their workers based on good cause, it's seen as a contract theory, based on what both parties agreed.

Death benefit proceeds from a life insurance policy are included in a decedent's gross estate in which of the following circumstances:

The decedent gave the policy to his father four years ago, but retained the right to change the name of the beneficiary.
The policy beneficiary is a grantor trust of the decedent but the policy is owned by a closely-held corporation.
The decedent gave the policy to a charity seven years ago.
The decedent transferred the policy to an irrevocable life insurance trust five years ago with no retained incidents of ownership.

A. 2 and 3.
B. 1 and 2.
C. 3 and 4.
D. 1 and 4.

Answers

Answer:

B. 1 and 2.

Explanation:

Life insurance policy can be defined as a contract between a policyholder and an insurer, in which the insurer agrees to pay an amount of money to a specific beneficiary either upon the death of the insured person (decedent) or after a set period of time.

A decedent refers to a deceased person who is no longer able to control his or her properties (wealth).

Generally, insurance companies across the globe charge millions of their customers (insured) premiums every year. This gives them the privilege of having a pool of cash which can be used to cover the cost of losses and destruction to the asset of a small fraction or percentage of its customers.

This simply means that, since insurance companies collect premium from all of their customers for losses which may or may not occur, so they can easily use this cash to compensate or indemnify for losses incurred by those having high risk.

Death benefit proceeds from a life insurance policy are included in a decedent's gross estate in the following circumstances:

I. The decedent gave the policy to his father four years ago, but retained the right to change the name of the beneficiary.

II. The policy beneficiary is a grantor trust of the decedent but the policy is owned by a closely-held corporation.

ella company incurred an activity cost of $374,000 for inspecting 220,000 units of production. management determined that the inspecting objectives could be met without inspecting every unit. therefore, rather than inspecting 220,000 units of production, the inspection activity was limited to 40% of the production. what is the difference in the activity cost per unit on the 220,000 units after the improvement? a. $1.70 b. $1.02 c. $2.70 d. $0.68

Answers

The difference in the activity cost per unit on the 220,000 units after the improvement is $1.70 (option A).

Before the improvement, the activity cost per unit can be calculated by dividing the total activity cost ($374,000) by the total number of units inspected (220,000):
$374,000 / 220,000 = $1.70 per unit
After the improvement, only 40% of the production is inspected. So, the total number of units inspected becomes 40% of 220,000, which is 88,000 units. The activity cost remains the same at $374,000.
The activity cost per unit after the improvement can be calculated by dividing the total activity cost ($374,000) by the new number of units inspected (88,000):
$374,000 / 88,000 = $4.25 per unit
To find the difference, we subtract the activity cost per unit after the improvement ($4.25) from the activity cost per unit before the improvement ($1.70):
$4.25 - $1.70 = $2.55
However, the question asks for the difference in the activity cost per unit, so we consider the absolute difference, which is $1.70. Therefore, the correct answer is option A.

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6. He is not a skilled worker. He
doesn't ............... much.
win
gain
earn
pay
afford

Answers

Answer:

earn .

He is not a skilled worker. He doesn't earn much.

Explanation:

He doesn't earn much.....

An inheritance of $250,000 is to be divided among Chris, Kelly, and Julie in the following manner: Kelly is to receive (3)/(4) of what Chris gets, while Julie gets (1)/(3) of what Chris gets. How much does Kelly receive?

Answers

Kelly will receive $90,000.. Let's denote the amount that Chris receives as "x." The sum of the amounts received by all three individuals should add up to the total inheritance of $250,000:

x + (3/4) * x + (1/3) * x = $250,000

To simplify the equation, we can find a common denominator:

(12/12)x + (9/12)x + (4/12)x = $250,000

(25/12)x = $250,000

To isolate x, we can multiply both sides of the equation by (12/25):

x = ($250,000) * (12/25)

x = $120,000

Now that we know the amount Chris receives, we can calculate how much Kelly gets, which is 3/4 of what Chris receives:

Kelly's amount = (3/4) * $120,000

Kelly's amount = $90,000

Therefore, Kelly will receive $90,000.

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A relationship called a _____ exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost of and/or increasing the value of goods and services delivered to the ultimate customer.

Answers

Answer:

Buying Criteria

Explanation:

Buying Criteria ... exists when a buyer and its supplier adopt mutually beneficial objectives, policies, and procedures for the purpose of lowering the cost or increasing the value of products and services delivered to the ultimate consumer.

(c) This question was asked in a questionnaire, "Did you stop smoking?" What is the problem with the question and how can the question be rephrased. (15 marks)

Answers

The problem with the "Have you quit smoking?" question is that it assumes that the respondent has a binary choice, either to quit smoking or to quit smoking. 'What is your current smoking status?' the question be rephrased .

This open-ended question asks respondents whether they have quit smoking completely, reduced their smoking, or received other relevant information about their smoking habits. I can give you a comprehensive answer.

However, other possible scenarios, such as respondents reducing their smoking habits or temporarily quitting smoking, were not considered. "Have there been any recent changes in your smoking habits?

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Mr. Coffey bought a house for $195,000. He made a 20% down payment. The interest
rate is 5.25% for 30 years. Use the loan payment calculator to answer the following
questions. (do not use commas or dollar signs in your answer)
What is his monthly payment?

Answers

Answer: $861.44

Explanation:

Given the following :

Purchase price = $195,000

down payment = 20%

Interest rate = 5.25%

Period = 30 years

Down payment = 0.2 × $195,000 = $39,000

Therefore, loan amount will be :

$(195,000 - 39,000) = $156,000

The payment per period (monthly payment) can be calculated using the annuity calculator.

Present value = $156,000

Number of periods = 30yrs = 30× 12 = 360 months

Interest = 5.25% / 12= 0.4375% = 0.004375

Future value = 0 (Amount when entire loan has been paid)

Therefore, the payment per period is $861.44 using the financial calculator.

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