Red Velvet's latest album is being sold in three different versions. A Kpop merchandise seller determined that the profit (in pesos) for selling Red Velvet's latest album is given by P= 30,000 0.1x² - y²-2² +80y + 100%, where x, y, and z are the number of albums sold for the special version, case version, and photobook version, respectively. If the seller plans to sell a total of 210 albums, use the method of Lagrange multipliers to find the number of albums for each version that will yield the maximum profit.
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- Cameron sells premium steak at the local market. He has a lot of customers due to the promising taste and texture of his steak. One kilogram of his premium steak costs $80.50. However, it would only cost $68.50 per kilogram if a customer buys 3 kilograms and $58.50 per kilogram if a customer buys 5 kilograms. Cameron can supply 100 kilograms of premium steak in a day, but his supply only lasts for an hour and a half. Which of the following statements is true? With this pricing scheme, Cameron is extracting all the consumer surplus. Cameron is basing his pricing scheme on the maximum amount a customer is willing to pay for his premium steak. Cameron is using third degree price discrimination by charging different prices for different "blocks" of kilograms for his premium steak. Cameron receives a larger revenue and profts with this pricing scheme compared to charging a single lower price for larger quantities. None of the above are true.A computer reseller needs to decide how many laptops to order next month. The lowest end laptop costs $220 and the retailer can sell these for $300. However, the laptop manufacturer already announced that they are coming out with a new model in a couple of months. Any laptops that will not be sold by the end of next month will have to be heavily discounted at half-price. The reseller also needs to consider that every time he fails to fulfill a laptop order, he stands to lose $25 for every unit. Based on the past months’ sales, the reseller estimates the demand probabilities for sales (S) as follows: P(0 units) = 0.3; P(1 units) = 0.4; P(2 units) = 0.2; P(3 units) =0.1. The reseller thinks it’s a good idea to conduct a survey on whether or not his customers are going to buy laptops and how many. The survey results will either be Yes (Y), No (N) or Don’t Know (DK). The probability estimates of the results based on the demand for number of units are: P(Y|S = 0 units) = 0.1 P(Y|S = 1…A computer reseller needs to decide how many laptops to order next month. The lowest end laptop costs $220 and the retailer can sell these for $300. However, the laptop manufacturer already announced that they are coming out with a new model in a couple of months. Any laptops that will not be sold by the end of next month will have to be heavily discounted at half-price. The reseller also needs to consider that every time he fails to fulfill a laptop order, he stands to lose $25 for every unit. Based on the past months’ sales, the reseller estimates the demand probabilities for sales (S) as follows: P(0 units) = 0.3; P(1 units) = 0.4; P(2 units) = 0.2; P(3 units) =0.1. The reseller thinks it’s a good idea to conduct a survey on whether or not his customers are going to buy laptops and how many. The survey results will either be Yes (Y), No (N) or Don’t Know (DK). The probability estimates of the results based on the demand for number of units are: P(Y|S = 0 units) = 0.1 P(Y|S = 1…
- A computer reseller needs to decide how many laptops to order next month. The lowest end laptop costs $220 and the retailer can sell these for $300. However, the laptop manufacturer already announced that they are coming out with a new model in a couple of months. Any laptops that will not be sold by the end of next month will have to be heavily discounted at half-price. The reseller also needs to consider that every time he fails to fulfill a laptop order, he stands to lose $25 for every unit. Based on the past months’ sales, the reseller estimates the demand probabilities for sales (S) as follows: P(0 units) = 0.3; P(1 units) = 0.4; P(2 units) = 0.2; P(3 units) =0.1. The reseller thinks it’s a good idea to conduct a survey on whether or not his customers are going to buy laptops and how many. The survey results will either be Yes (Y), No (N), or Don’t Know (DK). The probability estimates of the results based on the demand for the number of units are: P(Y|S = 0 units) = 0.1…You are a developer that has just finished writing a new game and would like to publish it with this platform’s store. You do not expect to incur in any more costs developing the product. The app store typically keeps 20% of your revenue but, in order to give an incentive to sellers, the app store will only charge 15% of revenue to successful apps selling more than 60,000 units a year, and 10% to top-selling apps with more than 85,000 units sold. Assume that there are no extra (in-game) charges beyond the price to acquire the game. Using the data in the table below, at what price should you sell your game at? (Don't forget to take into account elasticity) Quantity Price Total Revenue To Store Revenue Elasticity 96261.14 $ 0.99 $ 95,298.53 10% $ 85,768.67 -0.11 85920.32 $ 1.99 $ 170,981.43 10% $ 153,883.29 -0.24 75579.50 $ 2.99 $ 225,982.70 15% $ 192,085.29 -0.41 65238.68 $ 3.99 $ 260,302.33 15% $…R(p) = pN(p).| Bob is currently selling tires for 60 dollars each. His weekly sales are running at 130 tires per week, so N(60) = 130. His marketing department estimates that he will lose 2 sales per week for each 10 dollar increase in unit price, so N'(60) = -0.2. Estimate Bob's increase in weekly revenue for each one dollar increase in tire price. Revenue increase =1 dollars
- Туре of each type of subscriber website Number of Travel and Travel Cooking website cooking subscriber only only bundle 1,000 Travelers $10 $6 $16 1,000 Cooks $5 $10 $15 As shown in the table above, a company is targeting two groups of consumers-those who love to travel and those who love to cook. The company has very useful web content that it wants to market to these two groups, and it has estimated what each group would be willing to pay (their demand prices) for access to each type of content for a month. What is the best option for the company? Select one: a. Price the travel website at $5/month, the cooking website at $6/month, and sell them separately. O b. Price a bundle of the two websites at $16/month. O c. Price the travel website at $10/month, the cooking website at 10/month, and sell them separately. O d. Price a bundle of the two websites at $15/month.A large company in the communication and publishing industry hs quantified the relationship between the price of one of its products and the demand for this product as Price = 160 -0.01 xDemand for an annual printing of this particular product. The foxed costs per year (ie. per printing) = $4T 000 and the variable cost per unit = $35. What is the maximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not expected to be more than 7,000 units per year. The maximum profit that can be achieved is S. (Round to the nearest dolar.) The unit price at the point of optimal demand is S per unit (Round to the nearest cent)Air conditioning installers value good ACs at $4,100 and bad ones at $3,400, while buyers value good ones at $5,900 and bad ones at $4,600. Assume that the installer can attach a warranty, which cost $80 per month for good ACs and $250 per month for bad ones. If both types of AC installers are using a 4 month warranty, then the minimum acceptable price for good AC sellers is , while for bad AC sellers it Group of answer choices 4,380; is 4,400 4,380; 4,480 4,420; 4,480 4,420; 4,400
- When real estate apents sell their own, rather than dients, houses, they leave the houses on the market for a longer time (10 davs longer on average) and wind up with better prices. Suppose that real estate apents earn a commission equal to 3% of the sale value of each house that they help sel. Suppose a real estate apent has an offer on a house of s200,000. The agent can pet a 4% higher offer with more effort and by leaving the house on the market for a few more weeks. If the agent sells the house now, he wil ean a commission of |. By keeping the house on the market and expending more etfort to sel the house, the apert can earn a commission of Thus, the agent paine E for the extra effort and time of keeping the house on the market. Supoose a real estate agent has an offer on a house that he owns. The agent has a current offer of s200,000. but can pt a 4% higher offer with more effort and by leaving the house on the market for a few more weeks, Assume that all of the commission is paid…Next Friday, you plan to sell cakes at a bake sale to raise money for your school. You plan to charge $30 per cake, and you anticipate that you will sell 10 cakes. You can either purchase cakes to sell or bake them yourself. If you purchase the cakes, they will cost $21 each. If you bake your own cakes, your cost depends upon the number of cakes you bake, as shown in the table below. Number of cakes you bake Total cost of baked cakes ($) 0 0 1 10 2 22 3 36 4 52 5 70 6 90 7 112 8 136 9 162 10 190 a) How many cakes should you bake? How many cakes should you purchase? Bake cake(s) purchase cake(s). b) Given your answer to part a, how much in total will the 10 cakes cost you? $ c) How much would it have cost you to bake all 10 cakes? $ d) How much would it have cost you to purchase all 10 cakes? $You are currently a worker earning $60,000 per year but are considering becoming an entrepreneur. You will not switch unless you earn an accounting profit that is on average at least as great as your current Salary. You look into opening a small grocery store. Suppose that the store has annual cost of $150,000 for labor, $60,000 for rent and $30,000 for equipment. There is one-half probability that revenues will be $20,000 and a half probability that revenue will be $420,000 a. WHat is your accounting and economic profit? b. Will you quit your job and try your hand at being an entrepreneur? c. Suppose the government imposes a 25 percent tax on accounting profits: this tax is only levied if a firm is earning positive accounting profits. What will your after tax accounting profit be in the low revenue case?