Answer:
$6.00
Explanation:
Given data
quantity demanded ( x ) ∝ 1 / p^3 for p > 1
when p = $10/unit , x = 64
initial cost = $140, cost per unit = $4
<u>Determine the price that will yield a maximum profit </u>
x = k/p^3 ----- ( 1 ). when x = 64 , p = $10 , k = constant
64 = k/10^3
k = 64 * ( 10^3 )
= 64000
back to equation 1
x = 64000 / p^3
∴ p = 40 / ∛x
next calculate the value of revenue generated
Revenue(Rx) = P(price ) * x ( quantity )
= 40 / ∛x * x = 40 x^2/3
next calculate Total cost of product
C(x) = 140 + 4x
Maximum Profit generated = R(x) - C(x) = 0
= 40x^2/3 - 140 + 4x = 0
= 40(2/3) x^(2/3 -1) - 0 - 4 = 0
∴ ∛x = 20/3 ∴ x = (20/3 ) ^3 = 296
profit is maximum at x(quantity demanded ) = 296 units
hence the price that will yield a maximum profit
P = 40 / ∛x
= ( 40 / (20/3) ) = $6
Answer:
d. All of the above are correct.
Explanation:
In the case when the government decided that each kind of family required atleast income i.e. $25,000 so it would decrease the work incentive for earning till to $25,000 also it should be taxed by the government. In addition to this, in the case when the workers are discouraged so they miss on the job training and limits their capability for improving out their skills
So as per the given scenario, the option d is correct
Answer:
B) demographic
Explanation:
Demographic segmentation refers to defining (or segmenting) a specific target market based on demographic variables such as gender, age, income, family status, marital status, education, ethnicity, religion, etc.
Since the Alabama Board of Tourism showed "traditional" families, it is obviously targeting families with their adds, and family status is one of the demographic variables.
Answer:
The demand and the supply of loanable funds both remained the same.
Explanation:
If the interest rates rise, but both demand and supply of loanable funds remanin constant, this means that demand and supply remained the same.
This would be a problem in the real world, because when interest rates rise, what should happen is that the supply of funds rise, while demand falls, because a rise in interest rates makes investment more expensive since interset rates are simply the price of the loanable funds.
Answer:
The money you will have is $98020.
Explanation:
It is given that grandparents deposit $2,000 each year on birthday and the account pays 7% interest compounded annually also the time is 21 years.
we will use the compound interest formula 
.
For the first birthday the amount after 21 yr will be:
Similarly for the second birthday amount after 20yr will be:
likewise, the last compound will be:
The total value of such compounding would be
:
![\text {Total amount}=2000[(1+\frac{7}{100})^{21}+(1+\frac{7}{100})^{20}...(1+\frac{7}{100})^{1}]](https://tex.z-dn.net/?f=%5Ctext%20%7BTotal%20amount%7D%3D2000%5B%281%2B%5Cfrac%7B7%7D%7B100%7D%29%5E%7B21%7D%2B%281%2B%5Cfrac%7B7%7D%7B100%7D%29%5E%7B20%7D...%281%2B%5Cfrac%7B7%7D%7B100%7D%29%5E%7B1%7D%5D)
The total amount just after your grandparents make their deposit is:
≈($96020+2000)
≈$98020
Hence, the money you will have is $98020.
