The Demand Equation for the Sicard Wristwatch Is Given by

question 113

Multiple Choice

The demand equation for the Sicard wristwatch is given by , where x (measured in units of a thousand) is the quantity demanded each week and p is the unit price in dollars. Find the rate of change of the quantity demanded of the wristwatches with respect to the unit price when the unit price is $60. Round your answer to the nearest whole number.

• A) - 634 wristwatches/(dollar price increase)
• B) - 1,358 wristwatches/(dollar price increase)
• C) - 917 wristwatches/(dollar price increase)
• D) - 417 wristwatches/(dollar price increase)

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Definitions:

Consignment

Goods from a producer to a commission merchant for sale at the best possible price.

Total Gross Pay

The total amount earned by an employee before any deductions or taxes are applied.

Commission

Commission is a fee paid to an agent or employee for transacting a piece of business or performing a service, often a percentage of the sale.

Monthly Salary

A fixed amount of money or compensation paid to an employee by an employer for services rendered during a month.