Answer Happy

A retail store faces a demand equation for T-Shirts given by Q=150+15P, which Q is the number of shirts sold per month and P is the price in dollars. The Store currently charge P=$50 per shorts.
a) At the price, determine the number of shirts sold
b) If management were to raise the price to $100 what would be the impact on shirts sold and on the stores revenue for shirt.
c) Compute the point elasticity of demand, P=$80
d) Compute the point of elasticity at P=$100
e) At which price is demand more sensitive
MARGINAL COST (MC) 150 & Solve for total cost and marginal cost respectively (10 marks) h Identify and explain the fixed and variable inputs (4 marks) e. Calculate the mamber of wits of t variable input to be used to maximize prodit (6 marks) d. Calculate and explain the range of the variable input mage where increasing marginal returns emist (5 marks) e Calculate and explain the range of the variable apur usage that decreasing marginal res exist (5 marks) CAPITAL LABOUK TOTAL 30 TOTAL PRODUCT COST (TC) -PERRESSERR
MARGINAL COST (MC) 150 & Solve for total cost and marginal cost respectively (10 marks) h Identify and explain the fixed and variable inputs (4 marks) e. Calculate the mamber of wits of t variable input to be used to maximize prodit (6 marks) d. Calculate and explain the range of the variable input mage where increasing marginal returns emist (5 marks) e Calculate and explain the range of the variable apur usage that decreasing marginal res exist (5 marks) CAPITAL LABOUK TOTAL 30 TOTAL PRODUCT COST (TC) -PERRESSERR