Reference no: EM13189090
The Alpine Bagel Co. is evaluating pricing for Bagels in it's outlet in the student commons. Their in-house consulting team estimated that the daily demand for Bagels in the area to be the following
Q = -15P + 10Ps - 20Pc +16I
Where P = the price of bagels, Ps = the price of scones (each), Pc = the price of coffee (per cup), and I = Income (average annual disposable income, for students in thousands of dollars)
a. Comment on this estimated demand function. Are the signs of the parameters reasonable? Why or why not? (Restrict your commentary to the negative or positive signs on the parameter coefficient
Reasonable Sign? (Y/N) Reason
b. Suppose that the price of scones = $3, coffee costs $2 per cup, and average annual disposable income for students is $10,000. Calculate the inverse demand curve (e.g., for the latter express price as a function of quantity. NOTE ALSO - be certain to enter income appropriately - how is income denominated?)
|
What is the significance of path independence
: What is the significance of path independence? How does this relate to energy calculations?
|
|
Find the total fluid force against one end
: An oil tank is shaoed like a right circular cylinder of diameter 4 ft. Find the total fluid force against one end when the axis is horizontal and the tank is half filled with oil of weight density 50 lb/ft^3.
|
|
How far is the ship from the base of the lighthouse
: From the top of a 235 ft lighthouse, the angle of depression to a ship in the ocean is 23°. How far is the ship from the base of the lighthouse? Round your answer to the nearest foot.
|
|
Solve the serious data redundancy problems
: One of the many problems with data redundancy is the likely occurrence of data inconsistencies-two different initials have been entered for the teacher named Maria Cordon.)
|
|
Are the signs of the parameters reasonable
: The Alpine Bagel Co. is evaluating pricing for Bagels in it's outlet in the student commons. Their in-house consulting team estimated that the daily demand for Bagels in the area to be the following Q = -15P + 10Ps - 20Pc +16I
|
|
What are the lengths of the legs
: a city park is shaped like a right triangle with length of one leg twice the length of the other leg. The area is 2500 m2. What are the lengths of the legs?
|
|
Find the dimensions of the court
: the perimeter of a basketball court is 294 ft. The length is 43 ft longer than the width. Find the dimensions of the court.
|
|
What should happy pets do in response to the markets changes
: Happy s Pets inc has had a virtual monopoly anti depressants drugs for animals for many years (similar to Eli lilly product prozac for human) with a patent on this drug it has had very little competition and this drug has been a major source of co..
|
|
How many magazines did they receive
: on august 18, the ferrnandez family received 19 pieces of mail consisting of magazines, bills, letters, and ads. if they received the same number of magazines as letters, three more bills than letter, and five more ads than bills, how many magazin..
|