You sell a small number of CDs at your bookstore. You have a display that can hold 80 CDs from various artists. When your price Ashley McBryde’s new album at $20, you sell 50 copies per week. When you raise the price to $22, you sell 40 copies per week. You can charge whatever price you like for Ashley McBryde’s CD. Now a Post Malone album is coming out with a strong demand of 100 CDs per week at a fixed price of $16. You cannot change the price of the Post Malone CD. You can obtain an Ashley Mcbryde CD or a Post Malone CD for the same cost of $10 per unit. Given that you want to maximize profit from your 80 CD case, how many Post Malone CDs should you order per week? Enter as a value (ROUND TO NEAREST WHOLE NUMBER IF NECESSARY).
You sell a small number of CDs at your bookstore. You have a display that can...
Your business provides CDs for free to customers who pay for the English courses that you offer in Mexico. You consider the idea of mass production of the CDs in the U.S., so that you can sell (export) them to distributors or to retail stores throughout Mexico. You would price the CDs in dollars when exporting them. The CDs are not as effective without the teaching, but can be useful to individuals who want to learn the basics of the...
-/3 POINTS WANEFMAC7 12.6.010. MY NOTES ASK YOUR TEACHER The demand curve for original Iguanawoman comics is given by a = (457 – p) (0 sp < 457) 150 where q is the number of copies the publisher can sell per week if it sets the price at $p. (a) Find the price elasticity of demand when the price is set at $30 per copy. (Round your answer to two decimal places.) (b) Find the price at which the publisher...
Q2(A) Price Discrimination A small school has 100 students. You have been commissioned school photographer. From experience, you know that parents' demand for copies of each child's photograph is as given in the table below. Your fixed costs (studio rent, depreciation and various overheads) amount to $500 per week. Your variable costs (chemicals, films etc.) work out to a constant average variable cost of $1.50 per copy. Price ($/copy) Quantity Demanded 2 3 2 () Suppose that you want to...
3. 1/3 points| Previous Answers WaneFMAC7 12.6.010. My Notes Ask The demand curve for original Iguanawoman comics is given by (382-22 (0 S p 382) 50 where q is the number of copies the publisher can sell per week if it sets the price at $p. (a) Find the price elasticity of demand when the price is set at $38 per copy. (Round your answer to two decimal places.) (b) Find the price at which the publisher should sell the...
You can sell 60 pet chias per week if they are marked as $1 each, but only 50 per week if they are marked $2 per chia. Your chia supplier is prepared to sell you 10 chias per week if they are marked $1 per chia, and 20 per week if they are marked $2 per chia. At what price should the chias be marked so that there is neither surplus nor a shortage of chias?
You sell hotdogs outside the library. Originally you sell your hotdog for $6 each and you sell 60 hotdogs per day. You trial seeling your hotdogs for $4 each and notice you sell 100 hotdogs. a. Use the mid-point formula to calculate the % change in the price of hotdogs. b. Use the mid-point formula to calculate the % change in the quantity of hotdogs sold. c. Use a and b to determine the price elasticity of demand for...
Suppose you have just opened a store to sell espresso machines. Both you and a competing store buy this machine from a manufacturer for $130 each. Your competitor ,who has a store of the same size as yours, is currently selling about 10 machines a month at a price of $200 per machine. You expect to sell about 6 machines a month at a price of $220 per machine. If you lower your price, you expect to make a loss....
DB post: Answers to these questions are related to your actual age (28 years & 11 months). Assume you drink one coffee per day, 5 days a week. Assume coffee price is $4.00. That makes it $20 per week and $80 per month. Assume you can invest $80 per month in the stock market and assume you can earn 1 % per month on your stock investment or 12 % per year. A) At your retirement, when you are 65...
Your small farm encompasses 110 acres, and you are planning to grow tomatoes, lettuce, and carrots in the coming planting season. Fertilizer costs per acre are: $5 for tomatoes, $4 for lettuce, and $2 for carrots. Based on past experience, you estimate that each acre of tomatoes will require an average of 4 hours of labor per week, while tending to lettuce and carrots will each require an average of 2 hours per week. You estimate a profit of $3,000...
Suppose that you sell puppies. In the last 40 weeks, you have seen an average of 2 customers ask for puppies per week. Suppose that you can only carry 4 puppies in stock. When you run out of puppies, at the beginning of the next week you order 2 plus the number you sold the previous week. Make an appropriate assumption and determine a reasonable range of : 1. Average resupply order size 2. Probabilities that demand exceeds supply. 3....