Purchase Solution

The forecasted sales

Not what you're looking for?

Ask Custom Question

The demand equation for the Widget Company has been estimated to be:
Qd = 30,100 +10I -50P +20Pc, where Q = monthly number of widgets sold, I = average monthly inocme, P = price of widgets, and Pc = average price of competing products.

(1) If next month's income is forecast to be 2,000, the price of competing products is forecast to be $25, and the price of widgets will be set at $35, forecast sales.

Purchase this Solution

Solution Summary

The forecasted sales are predicted.

Solution Preview

Economics and management
________________________________________
The demand equation for the Widget Company has been estimated to be:
Qd = 30,100 +10I -50P +20Pc, where Q = ...

Purchase this Solution


Free BrainMass Quizzes
Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.