What is the maximum revenue

Assignment Help Mathematics

Reference no: EM13181543

The demand function for a certain children bicycle is given by x=10(((50-p)/p))^(1/2).

where x is the quantity demanded per week and p (0 < p < 50) is the unit price in dollars.

(a) Evaluate the elasticity at 40.

(b) Should the unit price be raised slightly from 40 in order to increase revenue? Enter 1 for Yes or 2 for No .

(d) What is the maximum revenue?

Reference no: EM13181543

Questions Cloud

What is the value of the test statistic : Let p represent the population proportion of all numbers in the corporate file that have a first nonzero digit of 1. Test the claim that p is less than 0.301 by using What is the value of the test statistic?

Use the critical value approach : Test at the 1% level of significance, whether the two population proportions are significantly different. Formulate and test the appropriate hypotheses. Use the critical value approach.

State what is the most likely molecular formula : A certain gaseous oxide of sulfur has an effusion rate that is 0.707 times the effusion rate of oxygen gas. What is the most likely molecular

Use newton''method to find the coordinates of the inflection : Use Newton's method to find the coordinates of the inflection point of the curve y = ecos(x),0 ≤ x ≤ π , correct to six decimal places.

What is the maximum revenue : Should the unit price be raised slightly from 40 in order to increase revenue? Enter 1 for Yes or 2 for No .

What unemployment rates expect to see in this economy : Consider another economy in which the unemployment rate over the next three years is 6%, 7%, and then 4%. According to Okun's Law, what are the levels of short run output (Y tilde) in this economy? Suppose short-run output over the next four years ..

Calculation of equilibrium and price ceiling quantities : Based on your calculation of equilibrium and price ceiling quantities, demand is, When the government imposes a price ceiling = $12, disequilibrium between quantity demanded and quantity supplied results in.

Calculate the height of a cliff : Calculate the height of a cliff when a ball is dropped from the cliff. The time for the fall is 10 second before hitting the ground (time of fall is 20 seconds) Given: Vo=0, V=20 m/s (final speed just before hitting the ground) gz 10 m/s to the 2 - t..

Develop a evaluation test : Develop a evaluation test that will be given to determine if the new employee training was effective. the test can be a visual description of what the employee must do, like a multiple choice, truth/ false, short answer test.

User Account

All Pages