Calculate the demand and probability, Macroeconomics

Assignment Help:

Sally's Silk Screning produces specialty T-shirts that are primarily sold at special events. She is trying to decide how many to produce for an upcoming event. During the event itself, which lasts one day, Sally can sell T-shirts for $20 a piece. However, when the event ends, any unsold T-shirts are sold for $4 apiece. It costs Sally $8 to make a specialty T-shirt. Using Sally's estimate of demand that follows, how many T-shirts should she produce for the upcoming event. Please show calculations.

Demand               Probability

300                         .05

400                         .10

500                         .40

600                         .30

700                         .10

800                         .05

 


Related Discussions:- Calculate the demand and probability

Trade liberalisation under wto, TRADE LIBERALISATION UNDER WTO: In  th...

TRADE LIBERALISATION UNDER WTO: In  the Uruguay Round negotiations, India agreed to reduce tariff on a  large number of  commodities and  remove quantitative restrictions (QRs

Lagrangian of the consumer, This problem substitutes financial health with ...

This problem substitutes financial health with housing in a 2 period consumption savings model. The representative consumer has the utility function u(c1, c2) = lnc1 + lnc2 with ea

Describe classical model of macroeconomics, Q. Describe classical model of ...

Q. Describe classical model of macroeconomics? Though we use the term ‘the classical model' as if there were just one classical model, this isn't quite true. For all the models

Shift in the demand to the right mean, What does a shift in the demand to t...

What does a shift in the demand to the right mean? Why does the demand curve shift?

Government can finance its budget deficit, A government can finance its bud...

A government can finance its budget deficit by doing all of the following except: A. borrowing from its central bank. B. printing money. C. selling bonds. D. buying bonds.

Business cycle, which turning point marks the end of an economic prosperity...

which turning point marks the end of an economic prosperity and the start pf contraction

Monetary Economics, What is the difference between money multiplier and cre...

What is the difference between money multiplier and credit multiplier

Gross domestic production, why is imports subtracted from the expenditure a...

why is imports subtracted from the expenditure approach

International trade, How can a country maintain equilibrium GDP with foreig...

How can a country maintain equilibrium GDP with foreign trade?

Product development project, What is the primary difference between a resea...

What is the primary difference between a research project and a product development project?

Write Your Message!

Captcha
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