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    Problem 2:Demand Analysis and Pricing

    The Tamashiro market is the only supplier of fresh salmon flown directly from Alaska. It buys
    fresh salmon at wholesale in Anchorage. The wholesale demand for fresh salmon in Alaska is shown in the
    scheduled below which can be defined mathematically as a power (Cobb-Douglas) function.
    Quantity Price Per
    in tons ton
    1 900
    2 400
    3 250
    4 180
    5 120
    6 100
    7 90
    8 80
    9 80
    10 80
    Questions: (a) find the equation of the wholesale demand function in Alaska
    (b) if Tamahiro buys 8 tons of fresh fish a month, how much would it sell it at retail in Honolulu.

    © BrainMass Inc. brainmass.com October 5, 2022, 6:10 pm ad1c9bdddf
    https://brainmass.com/economics/principles-of-mathematical-economics/demand-analysis-pricing-file-310249

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    QUESTION
    Problem 2: Demand Analysis and Pricing

    The Tamashiro market is the only supplier of fresh salmon flown directly from Alaska. It buys
    fresh salmon at wholesale in Anchorage. The wholesale demand for fresh salmon in Alaska is shown in the
    scheduled below which can be defined mathematically as a power (Cobb-Douglas) function.
    Quantity Price Per
    in tons ton
    1 900
    2 400
    3 250
    4 180
    5 120
    6 100
    7 90
    8 80
    9 80
    10 80
    Questions: (a) find the equation of the wholesale demand function in Alaska
    (b) if Tamahiro buys 8 tons of fresh fish a month, how much would it sell it at retail in Honolulu.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    © BrainMass Inc. brainmass.com October 5, 2022, 6:10 pm ad1c9bdddf>
    https://brainmass.com/economics/principles-of-mathematical-economics/demand-analysis-pricing-file-310249

    Attachments

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