Exam 14: A: Market Demand

In Problem 9, the demand for tickets is given by D(p) = 200,000 - 10,000p, where p is the price of tickets. If the price of tickets is $18, then the price elasticity of demand for tickets is

In Problem 1, suppose every Buick owner's demand for gasoline is 20 - 5p for p less than or equal to 4 and 0 for p > 4. Every Dodge owner's demand is 15 - 3p for p less than or equal to 5 and 0 for p > 5. Suppose that Gas Pump, South Dakota, has 100 Buick owners and 200 Dodge owners. If the price of gasoline is $4.25, what is the total amount of gasoline demanded in Gas Pump?

In Problem 6, the only quantities of good 1 that Barbie can buy are 1 unit or zero units. For x₁ equal to zero or 1 and for all positive values of x₂, suppose that Barbie's preferences were represented by the utility function (x₁ + 6)(x₂ + 8). Then if her income were $20, her reservation price for good 1 would be

In Problem 6, the only quantities of good 1 that Barbie can buy are 1 unit or zero units. For x₁ equal to zero or 1 and for all positive values of x₂, suppose that Barbie's preferences were represented by the utility function (x₁ + 6)(x₂ + 4). Then if her income were $16, her reservation price for good 1 would be

In Problem 6, the only quantities of good 1 that Barbie can buy are 1 unit or zero units. For x₁ equal to zero or 1 and for all positive values of x₂, suppose that Barbie's preferences were represented by the utility function (x₁ + 10)(x₂ + 4). Then if her income were $12, her reservation price for good 1 would be

In Problem 9, the demand for tickets is given by D(p) = 200,000 - 10,000p, where p is the price of tickets. If the price of tickets is $8, then the price elasticity of demand for tickets is

In the same football conference as the university in Problem 9 is another university where the demand for football tickets at each game is 80,000 - 4,000p. If the capacity of the stadium at that university is 50,000 seats, what is the revenue-maximizing price for this university to charge per ticket?

In Problem 5, the demand function for drangles is given by D(p) = (p + 1)^-2. If the price of drangles is $8, then the price elasticity of demand is

In Problem 6, the only quantities of good 1 that Barbie can buy are 1 unit or zero units. For x₁ equal to zero or 1 and for all positive values of x₂, suppose that Barbie's preferences were represented by the utility function (x₁ + 12)(x₂ + 8). Then if her income were $36, her reservation price for good 1 would be

In Problem 5, the demand function for drangles is given by D(p) = (p + 1)^-2. If the price of drangles is $3, then the price elasticity of demand is

In Problem 9, the demand for tickets is given by D(p) = 200,000 - 10,000p, where p is the price of tickets. If the price of tickets is $8, then the price elasticity of demand for tickets is

In the same football conference as the university in Problem 9 is another university where the demand for football tickets at each game is 60,000 - 8,000p. If the capacity of the stadium at that university is 40,000 seats, what is the revenue-maximizing price for this university to charge per ticket?

In Problem 9, the demand for tickets is given by D(p) = 200,000 - 10,000p, where p is the price of tickets. If the price of tickets is $15, then the price elasticity of demand for tickets is

In the same football conference as the university in Problem 9 is another university where the demand for football tickets at each game is 100,000 - 8,000p. If the capacity of the stadium at that university is 60,000 seats, what is the revenue-maximizing price for this university to charge per ticket?

In the same football conference as the university in Problem 9 is another university where the demand for football tickets at each game is 180,000 - 10,000p. If the capacity of the stadium at that university is 100,000 seats, what is the revenue-maximizing price for this university to charge per ticket?

In Problem 6, the only quantities of good 1 that Barbie can buy are 1 unit or zero units. For x₁ equal to zero or 1 and for all positive values of x₂, suppose that Barbie's preferences were represented by the utility function (x₁ + 10)(x₂ + 12). Then if her income were $4, her reservation price for good 1 would be

In Problem 9, the demand for tickets is given by D(p) = 200,000 - 10,000p, where p is the price of tickets. If the price of tickets is $10, then the price elasticity of demand for tickets is

In Problem 1, suppose every Buick owner's demand for gasoline is 20 - 5p for p less than or equal to 4 and 0 for p > 4. Every Dodge owner's demand is 15 - 3p for p less than or equal to 5 and 0 for p > 5. Suppose that Gas Pump, South Dakota, has 100 Buick owners and 200 Dodge owners. If the price of gasoline is $3.50, what is the total amount of gasoline demanded in Gas Pump?

In Problem 5, the demand function for drangles is given by D(p) = (p + 1)^-2. If the price of drangles is $4, then the price elasticity of demand is

In the same football conference as the university in Problem 9 is another university where the demand for football tickets at each game is 160,000 - 12,000p. If the capacity of the stadium at that university is 90,000 seats, what is the revenue-maximizing price for this university to charge per ticket?