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Where Q is quantity in thousands of five-gallon containers

Question # 00578178
Subject: Economics
Due on: 08/24/2017
Posted On: 08/24/2017 10:34 AM

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Calculating Quantity Demanded and Determining Demand Curve

Gurgling Springs, Inc., is a bottler of natural spring, Inc. is a bottler of natural springs water distributed throughout the New England states. Five-gallon containers of GSI spring water are regionally promoted and distributed through grocery chains. Operating experience during the past year suggests the following demand function for its spring water.

Q = 250 - 100P + 0.0001Pop + 0.0031 + 0.003A

Where Q is quantity in thousands of five-gallon containers, P is price ($), Popis population, I is disposable income per capita ($), and A is advertising expenditures ($).

A. Determine the .com/economics/demand-supply">demand curve faced by CPI in a typical market where P=$4, Pop=4,000,000 persons, I=$50,000 and A=$400,000. Show the demand curve with quantity expressed as a function of price, and price expressed as function of quantity.

B. Calculate the quantity demanded at prices of $5, $4 and $3.
C. Calculate the prices necessary to sell 1,250, 1,500 and 1,750 thousands of five gallon containers.

Tags containers fivegallon thousands quantity quantity demand spring water containers curve function price thousands expreed fivegallon prices distributed springs natural bottler demanded capita market typical adetermine pop4000000 expenditures faced advertising neceary 0 1 2 gallon

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Where Q is quantity in thousands of five-gallon containers

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