Answered: The demand function for a kind of good…

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)

6th Edition

ISBN:9781337111348

Author:Bruce Crauder, Benny Evans, Alan Noell

Publisher:Bruce Crauder, Benny Evans, Alan Noell

Chapter1: Functions

Section1.4: Functions Given By Words

Problem 16SBE

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Van der Waals Equation In Exercise 18 at the end of Section 2.3, we discussed the ideal gas law, which shows the relationship among volume V, pressure p, and temperature T for a fixed amount 1 mole of a gas. But chemists believe that in many situations, the van der Waals equation gives more accurate results. If we measure temperature T in kelvins, volume V in liters, and pressure p in atmosphere 1 atm is the pressure exerted by the atmosphere at sea level, then the relationship for carbon dioxide is given by p=0.082TV0.0433.592V2atm What volume does this equation predict for 1 mole of carbon dioxide at 500 kelvins and 100 atm?Suggestion: Consider volumes ranging from 0.1 to 1 liter.
Decay of Litter Litter such as leaves falls to the forest floor, where the action of insects and bacteria initiates the decay process. Let A be the amount of litter present, in grams per square meter, as a function of time t in years. If the litter falls at a constant rate of L grams per square meter per year, and if it decays at a constant proportional rate of k per year, then the limiting value of A is R=L/k. For this exercise and the next, we suppose that at time t=0, the forest floor is clear of litter. a. If D is the difference between the limiting value and A, so that D=RA, then D is an exponential function of time. Find the initial value of D in terms of R. b. The yearly decay factor for D is ek. Find a formula for D in term of R and k. Reminder:(ab)c=abc. c. Explain why A=RRekt.
Maximum Sales Growth This is a continuation of Exercise 10. In this exercise, we determine how the sales level that gives the maximum growth rate is related to the limit on sales. Assume, as above, that the constant of proportionality is 0.3, but now suppose that sales grow to a level of 4 thousand dollars in the limit. a. Write an equation that shows the proportionality relation for G. b. On the basis of the equation from part a, make a graph of G as a function of s. c. At what sales level is the growth rate as large as possible? d. Replace the limit of 4 thousand dollars with another number, and find at what sales level the growth rate is as large as possible. What is the relationship between the limit and the sales level that gives the largest growth rate? Does this relationship change if the proportionality constant is changed? e. Use your answers in part d to explain how to determine the limit if we are given sales data showing the sales up to a point where the growth rate begins to decrease.

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The demand function for a kind of good is represented by the equation Q = 60 - 3P. Calculate the elasticity at the price level P = 0.75; P = 1 and P = 10