Afirm has estimated the following demand function for its product:
q = 100 - 5 p + 5 i + 15 a
where q is quantity demanded per month in thousands, p is product price, i is an index of consumer income, and a is advertising expenditures per month in thousands. assume that p = $200, i = 150, and a = 30. for simplicity in calculating the results, use the point elasticity formulas to complete the calculations indicated below.
(i) calculate quantity demanded.
(ii) calculate the price elasticity for demand. is demand elastic, inelastic, or unit elastic?
(iii) calculate the income elasticity of demand. is the good normal or inferior?
(iv) calculate the advertising elasticity of demand.

Being an expert problem solver is something you're either born with or not. true or false

Imagine you own an established startup with growing profits. you are looking for funding to greatly expand company operations. what method of financing would be best for you?

Shelby company produces three products: product x, product y, and product z. data concerning the three products follow (per unit): product x product y product z selling price $ 85 $ 65 $ 75 variable expenses: direct materials 25.50 19.50 5.25 labor and overhead 25.50 29.25 47.25 total variable expenses 51.00 48.75 52.50 contribution margin $ 34.00 $ 16.25 $ 22.50 contribution margin ratio 40 % 25 % 30 % demand for the company’s products is very strong, with far more orders each month than the company can produce with the available raw materials. the same material is used in each product. the material costs $8 per pound, with a maximum of 4,400 pounds available each month. required: a. compute contribution margin per pound of materials used. (round your intermediate calculations and final answers to 2 decimal places.) contribution margin per pound product x $ product y $ product z $ b. which orders would you advise the company to accept first, those for product x, for product y, or for product z? which orders second? third? product x product y product z