Depicts the demand for sunscreen -When the price of a bottle
The table below depicts the demand for sunscreen at Daytona Beach.
Demand for Sunscreen | ||
Price (dollars) | Quantity (bottles) | Total Revenue (dollars) |
$16.00 | 0 | $ |
14.00 | 1,000 | |
12.00 | 2,000 | |
10.00 | 3,000 | |
8.00 | 4,000 | |
6.00 | 5,000 | |
4.00 | 6,000 | |
2.00 | 7,000 | |
0.00 | 8,000 | |
- 1. Fill in the total revenue column.
- 2. When the price of a bottle of sunscreen decreases from $14.00 a bottle to $12.00 a bottle, what is the change in total revenue?
- 3. When the price of a bottle of sunscreen decreases from $10.00 a bottle to $6.00 a bottle, what is the change in total revenue?
4. When the price of a bottle of sunscreen decreases from $4.00 a bottle to $2.00 a bottle, what is the change in total revenue?
5. When the price of sunscreen is in the range of $14.00 per bottle to $12.00 per bottle, demand is: (elastic, perfectly elastic, inelastic, or unit-elastic) Pick 1
6. When the price of sunscreen is in the range of $4.00 per bottle to $2.00 per bottle, demand is: (elastic, perfectly elastic, inelastic, or unit-elastic) Pick 1
7. Total revenue for sunscreen is maximized at a price of: ($6, $8, $10, $12) Pick 1.
- 8. When total revenue for sunscreen is maximized, demand is: (elastic, perfectly elastic, inelastic, or unit-elastic) Pick 1
-
Rating:
/5
Solution: Depicts the demand for sunscreen -When the price of a bottle