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ludmilkaskok [199]
3 years ago
5

The weekly sales of Honolulu Red Oranges is given by q = 990 − 22p. Calculate the price elasticity of demand when the price is $

30 per orange (yes, $30 per orange†).(???)Interpret your answer.The demand is going (up of down) by (???) % per 1% increase in price at that price level.Also, calculate the price that gives a maximum weekly revenue.$ (???)Find this maximum revenue.$ (???)
Mathematics
1 answer:
elena55 [62]3 years ago
7 0

Answer:

E = -2. The demand is going down by 2% per 1% increase in price at that price level.

The price that gives a maximum revenue is $22.5. The maximum revenue is $9112.5

Step-by-step explanation:

The overall demand formula: Q = aP + b

Q = 990 - 22P

<u>Demand elasticity:</u>

At P = $30, the Q = 990 - 22×30 = 330. a = \frac{dQ}{dP} = -22

The formula for demand elasticity: E = \frac{dQ}{dP}×\frac{P}{Q}

Demand elasticity at $30: E = -22 × \frac{30}{330} = -2

So, The demand will be going down by 2% if 1% increase in price.

<u>Revenue:</u>

R = P×Q = P×(990 - 22P) = -22P² - 990P

R' = -44P - 990. The revenue is maximum when R' = 0

⇔0 = -44P - 990 ⇔ P = $22.5

At the P = $22.5, the Q = 990 - 22×22.5 = 495.

The maximum revenue = $22.5×495 = $11,137.5

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ch4aika [34]

Answer:

<h2>A)x=3/2 y=½</h2>

Step-by-step explanation:

<h3>to understand this</h3><h3>you need to know about:</h3>
  • system of linear equation
  • PEMDAS
<h3>let's solve:</h3>
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  1. \sf substitute \: the \: value \: of \: y :  \\  \sf  - x + 2 = 3x - 4
  2. \sf add \: x \: to \: both \: sides :  \\  \sf  - x + x + 2 = 3x + x - 4 \\  \sf 4x - 4 = 2
  3. \sf add \: 4 \: to \: both \: sides :  \\  \sf xx - 4 + 4 = 2 + 4 \\ 4x = 6
  4. \sf divide \: both \: sides \: by \: 4 :  \\  \frac{4x}{4}  =  \frac{6}{4}  \\ x =  \frac{3}{2}

let's figure out y

  1. substitute the got value of x into the second equation: y=3*3/2 -4
  2. simplify multiplication:9/2 -4
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3 0
3 years ago
If f (x) = 4x - 11 , What is the value of f(5)<br> a. 20x - 55<br> b. 34<br> c. 9<br> d. 4
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Answer:C

Step-by-step explanation:

C

5 0
3 years ago
Find the absolute value of 6/8
saul85 [17]

Answer:

0.75

Step-by-step explanation:

6 / 8 =

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7 0
3 years ago
Jim and Dianna want to save for their child’s college expenses. They find an annuity that pays 6% annual interest, compounded mo
lana66690 [7]

Answer:

future value = $49163.8

so required amount will be $491200 nearest $100

Step-by-step explanation:

given data

annual interest rate = 6 %

annuity = $300 per month

time period = 10 years

to find out

how much money will they have for the college expenses

solution

we know that effective rate will be

effective rate = \frac{0.06}{12}

effective rate = 5 × 10^{-3}

number of payment = 12 × 10 = 120

so future value will be express as

future value = annuity × \frac{(1+r)^t-1}{r}   .........1

future value = 300 × \frac{(1+5*10^{-3})^{120}-1}{5*10^{-3}}

future value = 300 × 163.8793  

future value = $49163.8

so required amount will be $491200 nearest $100

7 0
3 years ago
How do I solve part b?
Minchanka [31]

Answer:

x \approx 1.4

Step-by-step explanation:

This problem gives one the following equation to model the graph of a line: (y=x^2-2). The problem asks one to find the value of (x) when (y=0). Rather than using the graph, an easier way to solve this problem is to substitute (0) in for the value of (y) and then solve for (x) using inverse operations.

y=x^2-2\\

Substitute,

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Round:

x \approx 1.4

As one can see on the graph, this result is very close to the value at which the graph intersects the (x) axis. Thus, one can conclude that (x) does indeed approximately equal (1.4)

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