What are the values of the given parameters a and b

Assignment Help Engineering Mathematics
Reference no: EM131481760

Question: 1. On a linear demand schedule quantity sold falls from 90 to 30 when price rises from £40 to £80. How much further will price have to rise for quantity sold to fall to zero?

2. A firm knows that its demand schedule takes the form P = a - bQ. If 200 units are sold when price is £9 and 400 units are sold when price is £6, what are the values of the parameters a and b?

Reference no: EM131481760

Questions Cloud

Give example of a linear function and then sketch its graph : Sketch the graphs of the linear functions 1 to 8 below, identifying the relevant intercepts on the axes. Assume that variables represented by letters.
Why ambulatory setting is significant to healthcare system : Ambulatory Care Project- Introduce the chosen topic and discuss why this ambulatory setting is significant to the healthcare delivery system.
What is the specific form of the actual demand function : A monopoly sells 30 units of output when price is £12 and 40 units when price is £10. If its demand schedule is linear, what is the specific form of the actual.
What do you think is the most important similarity : What do you think is the most important similarity, and which is the most important difference? Use specifics to support your answer.
What are the values of the given parameters a and b : On a linear demand schedule quantity sold falls from 90 to 30 when price rises from £40 to £80. How much further will price have to rise for quantity sold.
Identify goods as industrial or consumer goods : Identify goods as industrial or consumer goods, shopping good or luxury goods. Item types MTS/BTS or MTO/ATO by flow between nodes.
What are the slopes of the given lines : A firm notices that its total production costs are £3,200 when output is 85 and £4,820 when output is 130. If total cost is assumed to be a linear function.
Examine derivatives that were involved in financial collapse : Examine the derivatives that were involved in the financial collapse of 2008. Speculate on the most likely cause(s) of the collapse.
Analyze the last few pages of the novel : In the book "Their Eyes Were Watching God" by Zora Neale Hurston, analyze the last few pages of the novel. What do you think of the ending?

Reviews

Write a Review

Engineering Mathematics Questions & Answers

  Prime number theorem

Dirichlet series

  Proof of bolzano-weierstrass to prove the intermediate value

Every convergent sequence contains either an increasing, or a decreasing subsequence.

  Antisymmetric relations

How many relations on A are both symmetric and antisymmetric?

  Distributed random variables

Daily Airlines fies from Amsterdam to London every day. The price of a ticket for this extremely popular flight route is $75. The aircraft has a passenger capacity of 150.

  Prepare a system of equations

How much money will Dave and Jane raise for charity

  Managing ashland multicomm services

This question is asking you to compare the likelihood of your getting 4 or more subscribers in a sample of 50 when the probability of a subscription has risen from 0.02 to 0.06.]  Talk about the comparison of probabilities in your explanation.

  Skew-symmetric matrices

Skew-symmetric matrices

  Type of taxes and rates in spokane wa

Describe the different type of taxes and their rates in Spokane WA.

  Stratified random sample

Suppose that in the four player game, the person who rolls the smallest number pays $5.00 to the person who rolls the largest number. Calculate each player's expected gain after one round.

  Find the probability density function

Find the probability density function.

  Develop a new linear programming for an aggregate production

Linear programming applied to Aggregate Production Planning of Flat Screen Monitor

  Discrete-time model for an economy

Discrete-time model for an economy

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