unit price and q is the number of units supplied. Determine how many units will be supplied at a unit price of $54.80? b. If the demand function for a commodity is p = 700/ ln (q + 1), where p is the unit price and q is the number of units demanded. Determine how many units will be demanded at a unit price o

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
icon
Related questions
Question

a. If the supply of a commodity is given by p = 35 + 4 ln (2q + 1), where p is the unit price and q is the number of units supplied. Determine how many units will be supplied at a unit price of $54.80?

b. If the demand function for a commodity is p = 700/ ln (q + 1), where p is the unit price and q is the number of units demanded. Determine how many units will be demanded at a unit price of $159.29?

c. If you give your god child a gift $3000 towards a university education. How much will the $3000 be worth in 17 years if it was invested by the child’s mother at 10% compounded continuously?

Expert Solution
steps

Step by step

Solved in 3 steps with 2 images

Blurred answer
Recommended textbooks for you
College Algebra
College Algebra
Algebra
ISBN:
9781938168383
Author:
Jay Abramson
Publisher:
OpenStax
Linear Algebra: A Modern Introduction
Linear Algebra: A Modern Introduction
Algebra
ISBN:
9781285463247
Author:
David Poole
Publisher:
Cengage Learning
College Algebra
College Algebra
Algebra
ISBN:
9781305115545
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage