Answer:
Monthly rent of $345 would maximize revenue
Explanation:
Revenue = Price * Quantity
Quantity depends on price. We need to work out the relationship between price and quantity (that is, the demand function)
When the rent is $420, quantity demanded is 90 units:
When P = 420 we have Q = 90
Let x be the change in price. For every 3 dollar increase (decrease) in price demanded quantity will decrease (increase) 1 unit:
P = 420 + x (a) we have Q = 90 - x/3 (b)
To find the relationship between P and Q we seek to eliminate x.
Multiply both sides of (b) with 3 we have: 3Q = 270 - x (b')
From (a) and (b') we have: P + 3Q = 420 + x + 270 - x
=> P = 690 - 3Q
Revenue R = P * Q = (690 - 3Q) * Q = 690Q - 3Q^2
To find maximum set derivative of R to 0:
dR = 690 - 6Q = 0
=> Q = 690/6 = 115
To lease 115 the price should be P = 690 - 3Q = 690 - 3*115 = 345
Based on the information given, the company that's chosen is Tesla and it's a product-based company.
<h3>
What is Tesla?</h3>
The company is known for producing electric cars. It's different from its competitors as it produces electric vehicles and uses better softwares.
The company sells its cars worldwide. The competitors include Volkswagen and Toyota. Tesla has helped the environment as it accelerates the transition to sustainable energy
Lastly, the main challenge faced by the company is rising material costs.
Learn more about Tesla on:
brainly.com/question/6528766
Answer:
Substitution Effect outweighs Income Effect ; Labour Supply Curve between wages will be upward sloping. OR :-
Income Effect outweighs Substitution Effect ; Labour Supply Curve between wages will be backward bending
Explanation:
Relationship between wage rate & labour supply can be explained by two effects :
- Substitution Effect : Higher wage means more opportunity cost of leisure, so labourer would substitute leisure by working hours. This would imply increased labour supply.
- Income Effect : Higher wage means more income. At higher income, consumer demands more of all goods, including leisure. So that would imply labourer preferring more leisure, decreased labour supply.
Wage rate change from $20 to $25 is a case of wage rate increase
If substitution effect > income effect, labour supply would increase as a result of wage rise ( from $20 to $25). So, the labour supply curve would be upward sloping
If income effect > substitution effect, labour supply would decrease as a result of wage rise ( from $20 to $25). So, the labour supply curve would be backward bending
Answer:
beta of stock B = 1.33
Explanation:
the beta of treasury bills is 0
the beta of stock A = 1.46
the beta of stock B = ?
the portfolio contains equal amounts of each investment and its overall beta is 0.93
0.93 = (0 x 1/3) + (1.46 x 1/3) + (B x 1/3)
0.93 = 0 + 0.4867 + 0.333B
0.93 = 0.4867 + 0.333B
0.4433 = 0.333B
B = 0.4433 / 0.333 = 1.33
Answer: A data language controls database operations including storing, retrieving, updating and deleting data
Explanation: This is the definition for manipulation
