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 does not cross the horizontal axis. Therefore there is no price 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.) %24 thousand (c) How many fans will consumers purchase when the market price is $100? (Round your answer to three decimal places.) 17 093 thousand fans (d) Find the consumers' surplus when the market price is $100. (Round your answer to three decimal places.) $ 4264.84 X thousand Need Help? Read It Submit Answer View Previous Question Question 6 of 9 View Next Question Home My Assignments +Request Extension 11:03 PM (W) Pッ 10/5/2021 69°F P Type here to search hp BANG ins prt sc delete home end f12 f3 f4 f5 f6 f8 fg II & %24 4 %23 backspace 3. 7 O0 lock %23

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 does not cross the horizontal axis. Therefore there is no price 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.) %24 thousand (c) How many fans will consumers purchase when the market price is $100? (Round your answer to three decimal places.) 17 093 thousand fans (d) Find the consumers' surplus when the market price is $100. (Round your answer to three decimal places.) $ 4264.84 X thousand Need Help? Read It Submit Answer View Previous Question Question 6 of 9 View Next Question Home My Assignments +Request Extension 11:03 PM (W) Pッ 10/5/2021 69°F P Type here to search hp BANG ins prt sc delete home end f12 f3 f4 f5 f6 f8 fg II & %24 4 %23 backspace 3. 7 O0 lock %23

College Algebra (MindTap Course List)

12th Edition

ISBN:9781305652231

Author:R. David Gustafson, Jeff Hughes

Publisher:R. David Gustafson, Jeff Hughes

Chapter5: Exponential And Logarithmic Functions

Section5.2: Applications Of Exponential Functions

Problem 44E: Use a graphing calculator to solve each problem. In Example 4, suppose that a birth control program...

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