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Write a demand and supply curve expressed in the form of an exponential and logarithmic function respectively
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- The change on the graph above is most likely the result ofThe following table shows worldwide sales of a certain type of cell phone and their average selling prices in 2012 and 2013. Year 2012 2013 Selling Price ($) 395 325 Sales (millions) 741 1,133 (a) Use the data to obtain a linear demand function for this type of cell phone. (Let p be the price, and let q be the demand). q(p) = Use your demand equation to predict sales if the price is lowered to $255. million phones (b) Fill in the blank. For every $1 increase in price, sales of this type of cell phone decrease by million units.Draw a graph of the following function: y= e^x/(1+e^x)
- The table shows the approximate increase in sales that an additional $100 spent on advertising, at various levels, can be expected to generate. Increase in Revenue Due to an Extra $100 Advertising When Advertising Is Already at a Given Level Expenditures, x (hundred dollars) 25 50 75 100 125 150 175 Revenue Increase, R (thousand dollars) 4 59 94 107 104 78 33 (a) Find the function of the quadratic model that gives the approximate increase in revenue in thousand dollars per hundred dollars that occurs when an additional $100 is spent on advertising, where x is the amount in hundred dollars already spent on advertising, with data from 25 ≤ x ≤ 175. (Round all numerical values to three decimal places.) R'(X) = thousand dollars per hundred dollars (b) Use the model in part (a) to write the function of the model for the total sales revenue R in thousand dollars when x hundred dollars is spent on advertising. Use the fact that revenue is approximately $876,000 when $5000 is spent on…Need help with this, please show me where to plot the two points on the graph as well. Thanks!Graph the function C=50+0.8Y and give economic interpretations of the elements of the equation.
