How many caps could be sold at 12 dollar each

Assignment Help Econometrics
Reference no: EM13207008

The following function describes the demand condition for a company that makes caps featuring names of college and professional teams in a variety of sports.

Q = 2,000 - 100 P

where Q is cap sales and P is price.

a) How many caps could be sold at $12 each?

b) What should the price be in order for the company to sell 1,000 caps?

c) At what price would cap sales equal zero?

Reference no: EM13207008

Questions Cloud

Is the p -value small enough that we should reject h0 : Significant. In this example, the P -value is 0.1446. (h) State the conclusion in statistical terms and in regular English. Is the P -value small enough that we should reject H0 ?
Determine what is the equilibrium price : The following relations describe the supply and demand for posters. Qd = 65,000 - 10,000 P Qs = -35,000 + 15,000P Where Q is the quantity and P is the price of a poster, in dollars. a. Complete the following table. Price Qs Qd Surplus or Shortage
What is the value of the account after three years : 1. At what interest rate will it take $3000 to grow to $24,000 in an account that earns interest compounded monthly for 20 years? 2. Alice invests $10,000 in an account that earns 8% simple interest annually. What is the value of the account after..
How many ways are there to select 5 players : How many ways are there to select 5 players from a 10-member tennis team to make a trip to a match at another school?
How many caps could be sold at 12 dollar each : The following function describes the demand condition for a company that makes caps featuring names of college and professional teams in a variety of sports. Q = 2,000 - 100 P where Q is cap sales and P is price. a) How many caps could be sold at $..
How does one go from one representation to the other : We already saw this for nfinit which accepts either a polynomial or an nf. It will be true for ideals, ideles, congruence subgroups, etc. Ok, let"s stick with elements for the time being. How does one go from one representation to the other?
Calculate marginal rate of substitution in good x2 : 2. Find the marginal utility of good x2 3. Calculate the Marginal Rate of Substitution between good x2 and good x1: MRSx2,x1 = (du(·)/dx2)/(du(·)/dx1) 4. Equate this marginal rate of substitution to the ratio of prices : (Px2)/(Px1)
In what ways does liza develop over the course of play : In what ways does Liza develop over the course of the play? Does she mature? Is she fundamentally a changed person by the end?
What is the half life of radon-222 : (a) If a sample has a mass of 200 mg find a formula for the mass that remains after t days. (b) Find the mass after 100 days. (c) When will the mass be reduced to 10 mg?

Reviews

Write a Review

Econometrics Questions & Answers

  What was growth rate of nominal gdp between 1999 and 2000

Year nominal gdp gdp deflator ( base year 1996) 2000 9873 118 1999 9269 113 a.what was the growth rate of nominal gdp between 1999 and 2000 b.what was the growth rate of the gdp deflator between 1999 and 2000

  Find what will be the excess demand for apartments

Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by Qs = -1000 + 20P Qd = 50000 - 10P

  What is profit maximizing quantity and price for media cable

Explain why a monopolist, such as Media Cable, faces a downward-sloping demand curve Explain why the marginal revenue from an additional sale is less than the price of the service Suppose Media Cable currently charges $70 for its service. If it lo..

  Product led to an associated decrease in mcgwires average

Mark McGwire hit 70 home runs while playing for the St. Louis Cardinals. In 1999, McGwire hit 65 home runs. This decrease in marginal(home runs per season) product led to an associated decrease in McGwire's average(home runs per season) product.

  By how much has the money supply increased

Prepare a two- to three-page analysis by answering the questions below. Be sure to cite your references using APA format. Assume that the Bank of Ecoville has the following balance sheet and the Fed has a 10% reserve requirement in place: BALANCE SHE..

  How each program would affect the daily budget constraint

(1) A payment of $10/day is to be given this year to each person who was classified as poor last year; and (2) each person classified as poor will be given a benefit equal to 20 percent of the wage income he earns each day this year.

  What are the intercepts of budget line

Tanya operates a home business importing sweaters from Peru and sells them from her home. She collects $400,000 in revenue a year, and spends $200,000 on the sweaters and shipping costs, as well as $25,000 on advertising, accounting services and u..

  Derive the demand curves for ggc''s product in market

Greener Grass Company (GGC) competes with its main rival, Better Lawns and Gardens (BLG), in the supply and installation of in-ground lawn watering systems in the wealthy western suburbs of a major east-coast city. Last year, GGC's price for the t..

  How much can wilma expect to sell her bond for

Wilma bought a 10-year $1000 bond when the interest rate was 5% per year. So her bond would provide her with $50 at the end of each of ten successive years; and the $1000 is also returned at the end of ten years. She has just collected her seventh..

  Find the optimal contract length

Suppose the marginal benefit of writing a contract is $100, independent of its length. Find the optimal contract length when the marginal cost of writing a contract of length L is: a. MC(L) = 30 + 4L. b. MC(L) = 40 + 5L.

  By what percent did gdp decline

According to the News on page 159, (a) By what percent did GDP decline (b) How much output was lost in the $14 trillion economy (c) How much income did this represent for each of the 300 million U.S. citizens

  What is the equivalent annual income

An income-producing property has an annual gross rent income of $1,000,000 and annual expenses of $300,000. Every 5 years, the parking lot need to be re-surfaced at $60,000 and every 10 years, the rood will have to be maintained at $40,000.

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