What will be your total revenue from sales

Assignment Help Econometrics

Reference no: EM13199144

As a manager of MyShoo Inc., you have estimated that the daily demand for shoes that your firm faces is Q=325-3P-0.01 I, where P is the price of a pair of MyShoo shoes and I is the average consumer income of the firm's customers. Currently, P=25 and I=20,000.Based on this information, if you decide to decrease the price of a pair of MyShoo shoes by, say, 1%, what will be your total revenue from sales?

Reference no: EM13199144

Questions Cloud

Find the length of the sides parallel to the store : There are 420 feet of fencing available to complete the job. Find the length of the sides parallel to the store and perpendicular that will maximize the total area of the outdoor enclosure.

State degrees of freedom associated with the test statistic : After receiving some complaints from readers, your campus newspaper decides to redesign its front page. Two new formats B and C were developed and tested against the current format

Relative importance of the industrial and market revolutions : Weigh the relative importance of the Industrial and Market revolutions in changing the American economy. In what ways was the economy different in 1860 from what it had been in 1800? How would you explain those differences?

Is the heat absorbed by the water is greater smaller : Is the heat absorbed by the water is greater smaller or the same?

What will be your total revenue from sales : As a manager of MyShoo Inc., you have estimated that the daily demand for shoes that your firm faces is Q=325-3P-0.01 I, where P is the price of a pair of MyShoo shoes and I is the average consumer income of the firm's customers.

What required rate of return would result in a stock price : A $1,000 bond was issued in the year 2000 at a rate of 7%. The bond's maturity was 20 years. What is the most you would pay for the bond in 2012 if bonds of similar risk were yielding a return of 5%?

Describe the profit-maximizing quantity : A firm that sells e-books – books in digital form downloadable from the Internet – sells all e-books relating to do-it-yourself topics home plumbing, gardening, and so on at the same price.

State the ongoing moral development : Many critics claim that this portion of the book stops the ongoing moral development that Huck has had to undergo during the course of the novel and he becomes a side character as Tom dominates.

Major categories of hazards associated with terrorism : Analyze two of the five major categories of hazards associated with terrorism. Be sure to include which type of attack would be most logical to conduct in the United States and why?

User Account

All Pages