# b My Questions | bartlebyWA Ch 9.4 Type 2 - Math 1331, sectic x* MindTap - Cengage LearningG instantaneous rate of change caX Mathway | Algebra Problem Solve XSy tangent of f(x)=x^3-4x^2+9, atA webassign.net/web/Student/Assignment-Responses/last?dep=23079858* Cengages' Showdown!O Psypoke Tools : Typ..E AppsT Blackboard @ Texas...O skribbl.io - Free Mu.A Domino's Home Pa.C 2KMTCentral | NBA..Your Sets | Quizlet |.D YouTubeM Mathway | Math Pr.ESPN: Serving sport.Microsoft Office Ho.TVееа петртTaik to a Tutorкеаа itvvatcn itФ-11 pointsD My Notes2.HarMathAp12 9.4.051.MI.The demand for q units of a product depends on the price p (in dollars) according to768- 1, for p > 0.VPFind and explain the meaning of the instantaneous rate of change of demand with respect to price when the price is as follows.(a) \$16Interpret the instantaneous rate of change.If price increases by the absolute value of this amount, the demand will drop by 1 unit.If price decreases by the absolute value of this amount, the demand will drop by 1 unit.O If price increases by \$1, the demand will increase by the absolute value of this number of units.If price increases by \$1, the demand will drop by the absolute value of this number of units.If price decreases by \$1, the demand will drop by the absolute value of this number of units.(b) \$64Interpret the instantaneous rate of change.If price increases by the absolute value of this amount, the demand will drop by 1 unit.If price decreases by the absolute value of this amount, the demand will drop by 1 unit.O If price increases by \$1, the demand will increase by the absolute value of this number of units.If price increases by \$1, the demand will drop by the absolute value of this number of units.If price decreases by \$1, the demand will drop by the absolute value of this number of units.Need Help?Read ItMaster ItTalk to a TutorSubmit AnswerPractice Another Version-/1 pointsE My Notes3.HarMathAp12 9.4.053.Suppose that the total cost function, in dollars, for the production of x units of a product is given by the equation shown below.11:56 AMO Type here to search2/6/2020

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Step 1: Consider the provided function,

Consider the provided function in which p represent the price in dollars and q is units of the product.

Step 2

Substitute p=16 in the provided demand function.

Step 3

The above calculation shows that if price increase by the absolute value...

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