In the study of markets, economists define consumers' willingness and ability to spend as the maximum...

 

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In the study of markets, economists define consumers' willingness and ability to spend as the maximum amount that consumers are willing and able to spend for a specific quantity of goods or services. If some consumers will purchase a product or service regardless of its price, then the consumers' willingness and ability to spend is defined by Loc JPO where qo is a specific quantity, Po is the price associated with quantity qo, and D(p) is the demand for the commodity when the price is p. C = 90Po + D(p)dp The weekly demand for a dozen roses is given by D(p) = 316.765(0.947P) dozen roses where p is the price per dozen in dollars.. (a) Find the price that corresponds to a weekly demand of 80 dozen roses. (Round your answer to the nearest cent.) $ (b) Use the price (Po) found in part (a) to calculate how much consumers are willing and able to spend for 80 dozen roses per week. (Round your answer to the nearest cent.) $ In the study of markets, economists define consumers' willingness and ability to spend as the maximum amount that consumers are willing and able to spend for a specific quantity of goods or services. If some consumers will purchase a product or service regardless of its price, then the consumers' willingness and ability to spend is defined by Loc JPO where qo is a specific quantity, Po is the price associated with quantity qo, and D(p) is the demand for the commodity when the price is p. C = 90Po + D(p)dp The weekly demand for a dozen roses is given by D(p) = 316.765(0.947P) dozen roses where p is the price per dozen in dollars.. (a) Find the price that corresponds to a weekly demand of 80 dozen roses. (Round your answer to the nearest cent.) $ (b) Use the price (Po) found in part (a) to calculate how much consumers are willing and able to spend for 80 dozen roses per week. (Round your answer to the nearest cent.) $