You are a division manager at Toyota. If your marketing department estimates that the semiannual demand for

Question:

You are a division manager at Toyota. If your marketing department estimates that the semiannual demand for the Highlander is Q = 150,000 – 1.5P, what price should you charge in order to maximize revenues from sales of the Highlander?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial Economics and Business Strategy

ISBN: 978-0073523224

8th edition

Authors: Michael Baye, Jeff Prince

See More Books

Question Posted: Apr 18, 2014 08:59 AM

See More Questions

You are a manager at Toyota. If your marketing department estimates that the semiannual demand for the Highlander is Q= 150000-1.5P. What price should you charge in order to maximize revenue from the...
A monopolist sets MR = MC in order to maximize profit in the short run. 1. Explain why the monopolists demand and marginal revenue curves are not the same. 2. Graphically show a monopolists short-run...
You are a division manager of a large public company Your bonus as well as the bonuses of several of your best employees is calculated on your division s net income targets that you must meet
According to Dr. Grant, creatives are people who ________. A. Are procrastinators B. Act on multiple ideas C. Plan out each detail D. Are highly confident with no doubts about their success
Solve Problem using substitution or elimination by addition. 7m + 12n = -1 5m - 3n = 7
The cable supports the loading shown. Determine the magnitude of the vertical force P so that y = 4 m. -2 m- A B -4 m- Probs. 5-4/5 1 m C D T 1 m 8 kN
Discuss why AIDS is a reportable disease.
Here are two useful rules of thumb. The Rule of 72 says that with discrete compounding the time it takes for an investment to double in value is roughly 72/interest rate (in percent). The Rule of 69...
Think of a process--it could be as simple as making a peanut butter and jelly sandwich, or changing a light bulb. Using Gliffy, draw a flowchart for your process. What were some of your likes and...
You figure that the total cost of college will be $100,000 per year 18 years from today. If your discount rate is 8% compounded annually, what is the present value today of 4 years of college costs...
The demand function for good X is Qdx = a + bPx + cM + e, where Px is the price of good X and M is income. Least squares regression reveals that = 8.27, b = -2.14, c = 0.36, a = 5.32, b = 0.41, and...
Suppose the Kalamazoo Brewing Company (KBC) currently sells its micro-brews in a seven-state area: Illinois, Indiana, Michigan, Minnesota, Mississippi, Ohio, and Wisconsin. The companys marketing...
On October 1, 2018, Bullseye Company sold 250,000 gallons of diesel fuel to Schmidt Co. at $3 per gallon. On November 8, 2018, 150,000 gallons were delivered; on December 27, 2018. another 50,000...
A nongovernmental not-for-profit entity holds an investment in common stock of a publicly traded entity and an investment in debt securities of another. The NFP holds the common stock as a long-term...
The the first quarter records of YCO SARL indicate that they incurred the following costs in that period: Corporate Headquarters Utilities: $ 4 6 , 4 0 0 Direct Materials: $ 9 8 , 8 0 0 Executive...
Q1. What is the definition of a worker according to the labour law? What are the Main criteria for assessing a worker? Can a shop manager be defined as a worker in the eyes of the law and why?...
Examine the Labour Laws in St.Vincent and the Grenadines relating to termination of the employment contract. Do you think that they are fair? (Cite at least 4 case laws to support your answer using...
Distinguish between the three types of misrepresentation recognised in South African Law. Refer to case law in support of your answer. ? Consider the position of the Labour Relations Act 66 of 1995...
(a) If the position of a chlorine ion in a membrane is measured to an accuracy of 1.00 m, what is its minimum uncertainty in velocity, given its mass is 5.86 x 10 -26 kg? (b) If the ion has this...
Three successive resonance frequencies in an organ pipe are 1310, 1834, and 2358 Hz. (a) Is the pipe closed at one end or open at both ends? (b) What is the fundamental frequency? (c) What is the...
Section 16 of the Exchange Act imposes restrictions and reporting requirements on ownership positions and stock trades made by certain corporate insiders named in the statute. a. True b. False
Good X is produced in a competitive market using input A. Explain what would happen to the supply of good X in each of the following situations: a. The price of input A increases. b. An excise tax of...
Suppose the supply function for product X is given by Qsx = 50 + 0.5Px 5Pz. a. How much of product X is produced when Px = $500 and Pz = $30? b. How much of product X is produced when Px = $50 and...
The demand for good X is given by Research shows that the prices of related goods are given by Py = $5,900 and Pz = $90, while the average income of individuals consuming this product is M =...
java code ReadFile Create-a linked list from an input file (input.txt) that contains an even number of first names. The number of items in the file is unknown. Split Create-a split function that...
Complete a method named findValue which accepts an IntArray and an Int value and returns whether the array contains the passed value. Your method should not modify the passed array. However, you...
Write program Sum.java that just prints the strings that it is given at the command line, one per line. If nothing is given at the command line, print "No arguments". Modify your program (Make a copy...

You are a division manager at Toyota. If your marketing department estimates that the semiannual demand for

Question:

Step by Step Answer:

To maximize revenue Toyota should charge the pr...View the full answer

Managerial Economics and Business Strategy

Students also viewed these Economics questions