Question

Asked Oct 29, 2019

The demand function for a certain commodity is given by *p* = 100*e*^{−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

$

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

units

Step 1

Step 2

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

Step 3

Thus, *p* = $4.98.

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

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