Answer:
More than $1500 price per car per month has to be dropped.
Explanation:
Given:
price per car = $20,000
car sale per month = 40
rate of increase in demand = 3
Solution:
Revenue R = Price × Quantity = P * Q
From the above given data
P = 20,000
Q = 40
R = P*Q
dQ/dt = 3
We have to find the rate at which the price is to be dropped before monthly revenue starts to drop.
R = P*Q
dR/dt = (dP/dt)Q + P(dQ/dt)
= (dP/dt) 40 + 20,000*3 < 0
= (dP/dt) 40 < 60,000
= dP/dt < 60000/40
= dP/dt < 1,500
Hence the price has to be dropped more than $1,500 before monthly revenue starts to drop.
Answer:
Contractionary fiscal policy to prevent real gdp from rising above potential real gdp would cause the inflation rate to be <u>LOWER</u> and real gdp to be <u>LOWER</u>.
Explanation:
A government engages in contractionary fiscal policy when it decreases spending or increases taxes. This is done to lower the economy's inflation rate, but it also decreases aggregate income which will decrease aggregate supply, resulting in a lower real gross domestic product.
Answer:
If the sales target is $6, the consumer must buy one pair's cheap sandal because it gets a maximum value of 20 per $spent.
Explanation:
The computation of maximize utility is shown below:-
Bananas Pizza Cheap Sandals
Units MU MU/Price MU MU/Price MU MU/Price
1 19 19 48 16 120 20
2 15 15 33 11 30 5
3 5 5 3 1 6 1
If the sales target is $6, the consumer must buy one pair's cheap sandal because it gets a maximum value of 20 per $spent.
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