# Consumer Demand Analysis and Estimation Applied Problems

Patricia is researching venues ce a restaurant profession. She is evaluating three greater qualitys that she considers essential in her choice: sapidity, residuum, and charge. The rate she places on each quality, still, differs according to what mold of restaurant she is going to set-out. If she not attributable attributableoriouss a restaurant in a rural area of Los Angeles, then sapidity is the most essential quality, three times as essential as residuum, and span times as essential as charge. If she not attributable attributableoriouss a restaurant in the Los Angeles metropolitan area, then residuum becomes three times as essential as sapidity and span times as essential as charge. She is because span venues, respectively, a steak restaurant and a pizza restaurant, twain of which are charged the corresponding. She has rated each quality on a flake of 1 to 100 ce each of the span irrelative molds of restaurants. Steak Restaurant Pizza Restaurant Sapidity Residuum Charge 80 55 65 70 80 50 Appearance perfect of your calculations and processes. Depict your repartee ce each inquiry in consummate sentences. Which of the span discretions should Patricia track if she wants to not attributable attributableorious a restaurant in a rural area of Los Angeles? Calculate the aggregate expected emolument from each restaurant discretion and collate. Graph is not attributable attributable attributable required. Depict your repartee, and appearance your calculations. Which of the span discretions should she select if she plans to not attributable attributableorious a restaurant in the Los Angeles metropolitan area? Depict your repartee, and appearance your calculations. Which discretion should she track if the chance of firmness a restaurant venue in a rural area can be reliably estimated as 0.7 and in a metropolitan area as 0.3? Depict your ceced and appearance your calculations. Provide a description of a scenario in which this bark of firmness among span choices, based on hypothesis their underlying qualitys, applies in the “real-world” profession elucidation. Furthermore, what are the benefits and drawbacks, if any, to this arrangement of firmness making? Problem 2: The claim duty ce Newton’s Donuts has been estimated as follows: Qx = -14 – 54Px + 45Py + 0.62Ax where Qx represents thousands of donuts; Px is the charge per donut; Py is the mean charge per donut of other brands of donuts; and Ax represents thousands of dollars gone-by on advertising Newton’s Donuts. The exoteric rates of the stubborn variables are Ax=120, Px=0.95, and Py=0.64. Appearance perfect of your calculations and processes. Depict your repartee ce each inquiry in consummate sentences, whenever it is essential. Calculate the charge elasticity of claim ce Newton’s Donuts and depict what it resources. Depict your repartee and appearance your calculations. Derive an look ce the inverse claim flexion ce Newton’s Donuts. Depict your repartee and appearance your calculations. If the consume of unresisting Newton’s Donuts is firm at \$0.15 per donut, should they convert the charge and thereafter, dispose-of over donuts (lofty emolument maximization is the company’s appearance)? Should Newton’s Donuts bestow over on advertising?

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