Find the rate of change of supply price with respect to the number of units supplied.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter3: Linear And Nonlinear Functions
Section: Chapter Questions
Problem 26MCQ
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Question
Suppose that the supply of x units of a product at price p dollars per unit is given by the following.
p = 30 + 80 In(8x + 2)
(a) Find the rate of change of supply price with respect to the number of units supplied.
dp
dx
(b) Find the rate of change of supply price when the number of units is 31.
(c) Approximate the price increase associated with the number of units supplied changing from 31 to 32.
2$
Transcribed Image Text:Suppose that the supply of x units of a product at price p dollars per unit is given by the following. p = 30 + 80 In(8x + 2) (a) Find the rate of change of supply price with respect to the number of units supplied. dp dx (b) Find the rate of change of supply price when the number of units is 31. (c) Approximate the price increase associated with the number of units supplied changing from 31 to 32. 2$
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