The following table shows actual and projected worldwide annual sales and average selling prices of a certain type of smartphone in 2020 and 2024.Year 2020 2024Selling Price ($) 550 350Sales (millions) 210 770(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 (in millions) if the price is lowered to $300. million phones(b)Fill in the blank.For every $1 increase in price, sales of this type of cell phone decrease by million units.

The cost for a company to produce x smartphones can be modeled by C(𝑥)=2𝑥+35C(x)=2x+35 and the company's total profit after selling x smartphones can be modeled by P(x) = -x2 + 120x - 435. Which function represents the company's revenue for selling smartphones? (Recall that profit equals revenue minus cost.)A.R(𝑥)=−𝑥2+118𝑥−470R(x)=−x 2 +118x−470B.R(𝑥)=−𝑥2+122𝑥+400R(x)=−x 2 +122x+400C.R(𝑥)=−𝑥2+122𝑥−470R(x)=−x 2 +122x−470D.R(𝑥)=−𝑥2+122𝑥−400R(x)=−x 2 +122x−400SUBMITarrow_backPREVIOUS

Let's pretend we are living "in a perfect world!" Suppose Apple sold 0.1 million phones on their opening weekend in 2007. Then, each year after that, their iPhone sales TRIPLED. Write an equation (in function notation!) to represents this scenario. Note: Use fxto be able to see you equation on the graph.

One of the leading laptop manufacturers has estimated the following demand equation based on the data from its 50 branch offices and dealerships across the country: \[ \mathrm{Q}=\quad+10,000-60 P+300 A+50^{P_{c}}-100^{A_{\mathrm{c}}+50 I} \](7400)​ (25)(120)​ (22)(68)​ (28) \[ R^{2}-0.74 \quad \mathrm{~F}=28.56 \] The variables and their assumed values areQ=QuantityP=Price of basic model=500A=Advertising expenditures=50P e​ =Average price of the competitor's product=600A c​ =competitor's advertising expenditures=30I=per capita income=75a. Compute the elasticities for each variable. On this basis, discuss the relative impact that each variable has on the demand. What implications do these results have for the firm's marketing and pricing policies? b. How concerned the company should be about the impact of a recession on its sales? Explain. c. Do you think the firm should cut its price to increase market share? Explain. d. Conduct a t-test for the statistical significance of each variable. Discuss the results of the t-tests in light of the policy implications mentioned. e. What proportion of the variation in sales is explained by the independent variables in the equation? How confident are you about this answer? Explain.

A cell phone store, on average, sells 250 units a month. Due to the high season in December, it sold 50% more. How many cell phones were sold?350375450475550

There is a business that sells mobile phones. The business charges customers $700 for a new phone and $300 for a used phone. Assuming the business has sold 2 new phones and 1 used phone, how much total money (revenue) was generated?Choose 1 answer:$1,700$1,300$700$300