Explore BrainMass
Share

# Optical Sensors

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

Please see attached for the details of the Problems.

https://brainmass.com/physics/intensity/optical-sensors-406838

#### Solution Summary

This posting contains the solution to the given problems.

\$2.19
Similar Posting

## Estimating the Cost of Optical Sensors Based on the Resolution of the Sensor

1. Compute the price elasticity of demand for paint and show your calculations.

Price Elasticity of Demand (PEoD)
= (% CHANGE IN QUANTITY DEMANDED) / (% CHANGE IN PRICE)
Price Quantity Demanded
\$3.50 20 Gallons
\$3.00 35 Gallons

.

PRICE OLD = \$3.00
PRICE NEW = \$3.50
Q DEMAND OLD = 35 GALLONS
Q DEMAND NEW = 20 GALLONS

Quantity demand = [QDEMAND (NEW) - QDEMAND (OLD)] / QDEMAND (OLD)
= [(20 - 35) / 35] = -0.4285

Change in quantity demanded equals -42.85%

Change in price = [PRICE (NEW) - PRICE (OLD)] / PRICE (OLD)
= [(3.50 -3.00) / 3.00] = 0.1666
Change in price equals 16.66%

PEoD = (% Change in Quantity Demanded) / (% Change in Price)
= (-42.85) / (16.66)
= -2.5720

Price elasticity = absolute value only