Assume That the Demand Function for Tuna in a Small $p = \frac { 20,000 } { q ^ { 1.5 } }$

question 49

Multiple Choice

Assume that the demand function for tuna in a small coastal town is given by $p = \frac { 20,000 } { q ^ { 1.5 } }$ where p is the price (in dollars) per pound of tuna and q is the number of pounds of tuna that can be sold at the price p in 1 month. Calculate the price that the town's fishery should charge for tuna in order to produce a demand of 625 pounds of tuna per month.

• A)$1
• B) $2
• C) $1,200
• D) $800
• E) $32

Identify and evaluate the elements crucial for the success of business plans in competitive environments.

Understand the relationship between business planning and organizational goals.

Grasp the importance of detail in financial projections within business plans.

Understand the strategic planning timeframe and its implications for business success.

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Definitions:

Posting

The process of recording amounts as debits or credits in the accounts of a company's general ledger.

Debt Ratio

A ratio indicating a company's level of indebtedness by dividing its total liabilities by its total assets.

Financial Leverage

The use of borrowed funds to increase the potential return of an investment.

Debt Ratio

A financial ratio that measures the proportion of a company's total debt to its total assets, indicating the company's leverage level.