From the given information, The demand function is (P) = -x/8 + 600. The demand function illustrates the causal connection between the quantity of a commodity that is demanded and its numerous determinants.
The demand function is given by P - P1 = m(x-x1)
Since, m = -10/80 (i.e. additional 80 tablets every $10)
P1 = $250, x1 = 2800
So, P - 250 = -1/8 (x - 2800)
P = -1/8 + 350 +350
P = -x/8 + 600
Hence, the demand function (P) = -x/8 + 600
- One variable's connection with its determinants is described by the demand function. It explains how much of a certain amount of products is bought at various prices for that good and its related goods, various income levels, and various values for other demand-affecting variables.
There are two categories of demand function:
- The linear demand function
- Nonlinear Demand Function
Without needing to create a demand function graph, an algebraic formula for constructing demand curves is known as a linear demand function.
Demand function with nonlinearity. The slope of the demand curve (P/Q), in a nonlinear or curved demand function, varies along the demand curve.
Learn more about Demand function, here
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Answer: The correct answer is "c. bounded rationality".
Explanation: Jacob's decision is an example of bounded rationality, because according to the theory of limited rationality, people make decisions only partially in a rational way because of our cognitive, information and time constraints.
Answer:
c. $125.00
Explanation:
Let us assume the x for invested in portfolio
Invested proportion × expected return of the optimal portfolio + (1 - invested proportion) × risk free rate = expected return
x × 7% + (1 - x) × 3% = 8%
7% x + 3% - 3% x = 8%
4% x = 5%
X = 1.25
Now the invested amount would be
= 1.25 × $500
= $625
So, the borrowed amount would be
= $625 - $500
= $125
Software development process that develops software iteratively with a heavy emphasis on construction activities is known as an agile process. This process is driven by and focused on customer descriptions. It recognizes that plans are only for a short time and delivers a number of software increments.
