$53,000. Average Restaurant General Manager salaries for job postings in Seattle, WA are 8% higher than average Restaurant General Manager salaries for job postings nationwide.verage Restaurant General Manager salaries for job postings in Seattle, WA are 8% higher than average Restaurant General Manager salaries for job postings nationwide.
The standardized formula for measuring price sensitivity is: Price Sensitivity = (Change in Quantity Purchased / Change in Price)*%. Example: In order to observe the price sensitivity, let us consider that, when Nestle apple nectar prices increase by 60%, the juice purchases fall with the figure of 25%. Using the mentioned formula we can easily calculate the price sensitivity for nestle apple nectar: Price Sensitivity = -25% / 60% = -0.42. Therefore, we can conclude that for every of the percentage with which the Nestle apple nectar price increases; it affects the purchase by almost more than half percentage.
A price function generally looks like: P=f(Q) Where price is stated to be a function of quantity. This means that price is only depended on quantity. For example, we could have a price function that looks like: P=10-2Q Is this example, 10 represents the intercept, and the coefficient on quantity is 2. Price will be equal to 10 if quantity is equal to 0. As quantity rises, we see that price will go down. Eventually as quantity equals 5, we see that the price will be 0. Price functions can also be called inverse demand functions. This is because a demand function has quantity as a function of price, but through simple algebra, we can solve for p to get the price function. This is a necessary step if you intend to graph the function, but price is on the y-axis. Typically, you will be given problems that give you a supply or demand function.