The demand function for a certain commodity is given by p = 100e−q/2. (p is the price per unit and q is the number of units.)(a) At what price per unit will the quantity demanded equal 6 units? (Round your answer to the nearest cent.)$ (b) If the price is $1.99 per unit, how many units will be demanded, to the nearest unit? units

Question
Asked Oct 29, 2019

The demand function for a certain commodity is given by p = 100eq/2. (p is the price per unit and q is the number of units.)

(a) At what price per unit will the quantity demanded equal 6 units? (Round your answer to the nearest cent.)


(b) If the price is $1.99 per unit, how many units will be demanded, to the nearest unit?
 units
check_circleExpert Solution
Step 1

Step 2

(a) The price per unit is evaluated as follows for q = 6.

6
p=100e
-100e
100(0.0498)
= 4.98
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6 p=100e -100e 100(0.0498) = 4.98

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Step 3

Thus, p = $4.98.

(b) The price per unit is p = $1.99. The number of units...

1.99 =100e
0.0199=e
In(0.0199) -
2
3.917(2)
-q
7.834 =q
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1.99 =100e 0.0199=e In(0.0199) - 2 3.917(2) -q 7.834 =q

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