--%>

Tutorial

7. The San Diego Zoo is contemplating a stuffed panda bear advertising promotion. Annualized sales data from local shops marketing the "Can't Bear it When You're Away" bear indicate that: Q = 50,000 - 1,000P where Q is Panda bear sales and P is price. A. How many pandas could the zoo sell at $30 each? B. What price would the zoo have to charge to sell 25,000 pandas? C. At what price would panda sales equal zero? D. How many bears could be given away? E. Calculate the point price elasticity of demand at a price of $10.

   Related Questions in Managerial Economics

  • Q : Profit Maximization and the Demand for

    An increase within competitively-set wages tends to cause firms to adjust hence there are reductions into the: (1) amounts of labor most firms hire. (2) value of the marginal productivity of workers. (3) marginal profit from hiring labor. (4) technolo

  • Q : Concavity in production possibilities

    Concavity (or bowed-out shapes) in production possibilities frontiers is described least fine by: (i) The law of diminishing returns. (ii) Resources being unevenly suited for various forms of production. (iii) Rising opportunity costs. (iv) Non-neutra

  • Q : Limitations of Marginal Costing Write

    Write down the limitations of Marginal Costing?

  • Q : Extension/contraction and shift in

    Differentiate between extension/contraction and shift in demand?

  • Q : Offsets the amount of revenue to added

    Profit maximizing firms will adjust their employment of labor till the last employee hired adds: (w) more to the firm’s revenue than this adds to cost. (x) more to the firm’s cost than this adds to the firm’s revenue. (y) an amount o

  • Q : Illustrates the Forward Planning in

    Does managerial economic as a tool for Forward Planning? Explain this term briefly.

  • Q : Purely competitive labor markets in

    When all labor were fundamentally very similar then, in long run equilibrium for purely competitive labor markets as: (w) money wages will be equal for all workers. (x) the net advantages of working in various occupations will be equa

  • Q : Illustrates the merits of scarcity

    Illustrates the merits of scarcity definition?

  • Q : Government and Labor Assume that male

    Assume that male nurses are paid more than female nurses for same work. When an “equal pay for equal work” law is enforced and enacted, it may: (w) decrease the wages of male nurses. (x) not influence the wages of female nurses. (y) increa

  • Q : What are the characteristics of a

    What are the characteristics of a business cycle?