The ABC marketing consulting firm found that a particular brand of portable stereo has the following demand curve for a certain region.
Q=10,000-200P + 0.03Pop + 0.6I + 0.2 A
Where Q is the quantity per month, P is price, Pop is population, I is disposable income per household (S), and A is advertising expenditure.
A. determine the demand curve for company in a market in which P= 300, Pop= 1,000,000, I= 30,000, and A= 15,000.
B. Caculate the quanity demanded at prices of $200, $175, $150, and $125.
C. Calculate the price necessary to sell 45,000 units.
Answer will be sent by email as attachment.
