Question

Suppose that p is the price in dollars and q is quantity with demand for a product given by q = 250e^−.02p

(a) Find the quantity demanded when the price is $20.

(b) Find q ^{1}(20) and interpret your result using correct units

Step 1

Consider the equation for the quantity demanded for price *p*

Step 2

a) Substitute 20 for *p* in the equation for quantity demanded.

Step 3

Thus, the quantity demanded wh...

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