Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 04, 2018

The price demand equation of a GPS device is p(x) = 1000e^-0.02x Where x is the monthly demand and p is the price in dollars.

The price demand equation of a GPS device is

p(x) = 1000e^-0.02x

Where x is the monthly demand and p is the price in dollars. Find the production level and price per unit that produce the maximum revenue. What is the maximum revenue?

Step by Step Solution

★★★★★

3.51 Rating (158 Votes )

There are 3 Steps involved in it

Step: 1 Unlock smart solutions to boost your understanding

R xpx R x100e 002x To find the maxi... blur-text-image

Get Instant Access to Expert-Tailored Solutions

83% of Sciences Students Improved their GPA!

Step: 2Unlock detailed examples and clear explanations to master concepts

Step: 3Unlock to practice, ask, and learn with real-world examples

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Microeconomics

Authors: David Besanko, Ronald Braeutigam

5th edition

1118572270, 978-1118799062, 1118799062, 978-1118572276

More Books

Students explore these related Mathematics questions

Question

A firm has a monthly production function where L is hours of labor per month and K is square feet of manufacturing space. The marginal product of labor is The marginal product of capital is a. If the...

Answered: 3 weeks ago

Question

The price p (in dollars) and the demand x for a particular steam iron are related by the equation x = 1,000 - 20p (A) Express the price p in terms of the demand x, and find the domain of this...

Answered: 3 weeks ago

Question

In Problem, use the demand equation to find the revenue function. Sketch the graph of the revenue function, and indicate the regions of inelastic and elastic demand on the graph. x = f(p) = 10(16 - p)

Answered: 3 weeks ago

Question

This chapter describes the mechanisms in place to regulate accounting and financial reporting in five countries. Required: Compare and contrast these mechanisms in the United Kingdom and China.

Answered: 3 weeks ago

Question

The joint pdf of pressures for right and left front tires is given in Exercise 9. a. Determine the conditional pdf of Y given that X = x and the conditional pdf of X given that Y = y. b. If the...

Answered: 3 weeks ago

Question

5. Use the Internet to determine the market shares of the major hotel chains for the last calendar year. With roots that go back to before the Great Depression, Marriott International...

Answered: 3 weeks ago

Question

Compare the errors and biases approach to the origins of financial crises with the bounded rationality approach.

Answered: 3 weeks ago

Question

Saunders Corp. has a book net worth of $13,205. Longterm debt is $8,200. Net working capital, other than cash, is $4,205. Fixed assets are $17,380. How much cash does the company have? If current...

Answered: 3 weeks ago

Question

What is the present value of $100,000 to be received in 15 years with an annual discount rate of 5%, discounted monthly. Enter the excel formula you would use to solve this problem. Do NOT put any...

Answered: 3 weeks ago

Question

1. How should the bank evaluate Rusty bucket Brewery Co. LLC's USD 750000 loan request? 2. which SBA program would the bank most likely use to fund the loan for Rusty BUcket Brewing Co.LLC ? 3....

Answered: 3 weeks ago

Question

The 5imth Corporaton has the following account balances (in milori) IA (crick the icoo to vew the aceevnt balancens ) Requlrement Pregare an income statmment and a supparting schessle of cost of...

Answered: 3 weeks ago

Question

The rise of e-commerce and aircargo (2015- present) and movetowards a sustainable futurewrite INTRODUCTION (500 words) Air cargo E-commerce Relationship between air cargoand E-commerce Sustainability...

Answered: 3 weeks ago

Question

Capital Weightings and WACC Calculation The market values of KO's common stock and preferred stock are $211,296 million and $101 million, respectively. Coca-Cola has total debt outstanding with a...

Answered: 3 weeks ago

Question

(12 points) 4. The demand and supply for the cleaning and grooming of a pet are given for two prices Demand Supply Price 680 815 105 780 735 85 a. Find the linear demand equation. b. Find the linear...

Answered: 3 weeks ago

Question

Mr Satya, age 35,married to Rupanvita, age 33. He is a government employee, and his wife is a marketing manager with private company. He stays in Kolkata, and has a 10-months old son, Ajay. Over the...

Answered: 3 weeks ago

Question

its an initial dream to be "the destination of choice for Australian job seekers", SEEK was founded in Melbourne, Australia in 1997 by brothers Paul and Andrew Bassat, together with co-founder...

Answered: 3 weeks ago

Question

Given an iterative algorithm below which defines the + 1 elements of vectors and :

Answered: 3 weeks ago

Question

One study found that the elderly who do not have children dissave at about the same rate as the elderly who do have children. What might this finding imply about the reason the elderly do not dissave...

Answered: 3 weeks ago

Question

In a multilevel cache system, the CPU first sends the memory request to level 1 cache. If it is a cache hit, the data is transferred to the CPU. If it is a cache miss, the CPU will send the same...

Answered: 3 weeks ago

Question

Suppose that you can hire your mechanic for up to 6 hours in finely divisible increments. Your benefit and cost functions are B(H) = 4,000H and C(H) = 100H + 120H2. What is your marginal benefit when...

Answered: 3 weeks ago

Question

What is the effect of discrimination on consumer and aggregate surplus in Problem 4?

Answered: 3 weeks ago

Question

Suppose moviegoers' demand functions are the same as in Worked-Out Problem 18.2, but marginal cost is instead $3 per ticket (instead of $2 per ticket, as in the Worked-Out Problem). What prices will...

Answered: 3 weeks ago

Question

When the population distribution is normal and n is large, the sample standard deviation S has approximately a normal distribution with and . We already know that in this case, for any n, is normal...

Answered: 3 weeks ago

Question

Define what it means to be conscious.

Answered: 3 weeks ago

Question

Identify the different stages of sleep.

Answered: 3 weeks ago

Previous Question Next Question