Find the revenue function

Assignment Help Econometrics
Reference no: EM131261659

In Problems 47-49, use the demand equation to find the revenue function. Sketch the graph of the revenue function, and indicate the regions of inelastic and elastic demand on the graph.

1741_0cd72744-c5b4-4716-86bb-399cb2ce01c2.png

Reference no: EM131261659

Questions Cloud

How fast is its daily cost for hamburgers increasing : Rate of change of cost. A fast-food restaurant can produce a hamburger for $2.50. If the restaurant s daily sales are increasing at the rate of 30 hamburgers per day, how fast is its daily cost for hamburgers increasing?
How fast is its daily cost for hamburgers increasing : Rate of change of cost. The fast-food restaurant in Problem 63 can produce an order of fries for $0.80. If the restaurant s daily sales are increasing at the rate of 45 orders of fries per day, how fast is its daily cost for fries increasing?
What is another interpretation or viewpoint of the issue : How can I validate the accuracy of my statement? How is this information relevant? How does my conclusion address the complexities of the issue? What is another interpretation or viewpoint of the issue?
How did this person effected the critical theme : Critical analysis of a famous African American from the list provided on Blackboard. In this assignment you will provide a developed close reading that examines one of the themes the course has outlined as it applies to the person chosen. How did/..
Find the revenue function : In Problems 47-49, use the demand equation to find the revenue function. Sketch the graph of the revenue function, and indicate the regions of inelastic and elastic demand on the graph.
Find the values of p for which demand is elastic : In Problems 42-44, use the price demand equation to find the values of p for which demand is elastic and the values for which demand is inelastic. Assume that price and demand are both positive.
Write the given paper assignment : Write the given paper assignment. - The title of your paper should be brief but should adequately inform the reader of your general topic and the specific focus of your research.
Discuss both qualitative and quantitative methodologies : Discuss both qualitative and quantitative methodologies by articulating the pros and cons of each approach, as well as the triangulation process.
Develop an environmental analysis that includes competitive : Develop both a SWOT analysis and needs analysis for your product. Each analysis should examine four (4) strengths, weaknesses, opportunities, and threats for your company.

Reviews

Write a Review

Econometrics Questions & Answers

  List the procedures the auditor would perform

Write the auditor's opinion if adequate disclosure is not made.

  Calculate the optimal number of bottles to package for sale

Suppose a typical consumer's inverse demand function for bottled water at a resort area where one firm owns all the rights to a local spring is given by P=15-3Q. The marginal cost for gathering and bottling the water is $3 per gallon.

  Calculate the overall rate of interest the couple will pay

Calculate the overall rate of interest the couple will pay using this arrangement. If you answer using a percent, please include a minimum of two significant digits in your answer. If you answer using a decimal, please include a minimum of four ..

  Draw demand and supply curves for skilled worker

Draw demand and supply curves for skilled and unskilled workers, marking the initial equilibrium in each market.

  Are the banks fully utilizing their lending capacity

Assume the banking system contains Total reserves $80 billion Transaction deposits $800 billion Cash held by the public $100 billion Reserve requirement 0.10 a. Are the banks fully utilizing their lending capacity b. What would happen to the money su..

  How to maintain monopoly over the production of electricity

You own a building that has 4 possible uses: a cafe, a craft store, a hardware store, and a bookstore. The value of the building in each use is $2000; $3000; $4000; and $5000, respectively. You decide to open a hardware store. The opportunity cost..

  How much will your firms total revenues changes

You are the manager of a firm that receives revenues of $30,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -2.5, and the cross-price elasticity of demand between product Y and X..

  What is the current profit or loss for 1000 units produce

The products are being made by a machine that currently costs $100,000 and produces a 1000 units during its lifetime after which it needs to be replaced. The machine can be replaced by a larger one that produces proportionally larger number of uni..

  Briefly summarize major conclusions of traditional theory

Briefly summarize the major conclusions of the traditional theory of free trade with regard to its theoretical effects on world and domestic efficiency, world and domestic economic growth, world and domestic income distribution, and the pattern of..

  What is the annual equivalent cost for each motor

Power cost per kwh is $0.14. Annual maintenance, taxes and insurance will be 2.5% of the initial cost. a. What is the annual equivalent cost for each motor b. What is the IRR (Internal Rate of Return) on the incremental investment to select the more ..

  What shape would his demand curve have

How did Samsung's unveiling of the Galaxy S5 affect the demand for the S4 (News, p. 51)? What determinant(s)of demand changed? How did Walmart's price cut compensate? LO3-1

  Construct a table to report the regressions

Construct a table to report the regressions above, which includes the estimates, the standard errors, and adjusted R-square and find the estimated coefficient of ln(Y earsSchool) in Regression B. What is the interpretation of it?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd