The demand for ceiling fans can be modeled below as D(p) = 25.52(0.996P) thousand ceiling fans where p is the price (in dollars) of a ceiling fan. (a) According to the model, is there a price above which consumers will no longer purchase fans? Explain why or why not. The model is exponential and -Select- the horizontal axis. Therefore there ---Select--- v above which consumers will not purchase a ceiling fan. (b) Calculate the amount that consumers are willing and able to spend to purchase 18 thousand ceiling fans. (Round your answer to three decimal places.) 2$ thousand (c) How many fans will consumers purchase when the market price is $100? (Round your answer to three decimal places.) thousand fans (d) Find the consumers' surplus when the market price is $100. (Round your answer to three decimal places.) 2$ thousand Need Help? Read It Submit Answer 2:37 73°F 10/5/
The demand for ceiling fans can be modeled below as D(p) = 25.52(0.996P) thousand ceiling fans where p is the price (in dollars) of a ceiling fan. (a) According to the model, is there a price above which consumers will no longer purchase fans? Explain why or why not. The model is exponential and -Select- the horizontal axis. Therefore there ---Select--- v above which consumers will not purchase a ceiling fan. (b) Calculate the amount that consumers are willing and able to spend to purchase 18 thousand ceiling fans. (Round your answer to three decimal places.) 2$ thousand (c) How many fans will consumers purchase when the market price is $100? (Round your answer to three decimal places.) thousand fans (d) Find the consumers' surplus when the market price is $100. (Round your answer to three decimal places.) 2$ thousand Need Help? Read It Submit Answer 2:37 73°F 10/5/
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 6DE
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Transcribed Image Text:The demand for ceiling fans can be modeled below as
D(p) = 25.52(0.996P) thousand ceiling fans
where p is the price (in dollars) of a ceiling fan.
(a) According to the model, is there a price above which consumers will no longer purchase fans? Explain why or why not.
The model is exponential and -Select-
the horizontal axis. Therefore there ---Select--- v above which consumers will not purchase a ceiling fan.
(b) Calculate the amount that consumers are willing and able to spend to purchase 18 thousand ceiling fans. (Round your answer to three decimal places.)
2$
thousand
(c) How many fans will consumers purchase when the market price is $100? (Round your answer to three decimal places.)
thousand fans
(d) Find the consumers' surplus when the market price is $100. (Round your answer to three decimal places.)
2$
thousand
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2:37
73°F
10/5/
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