   Chapter 10.5, Problem 79E Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203

Solutions

Chapter
Section Finite Mathematics and Applied Cal...

7th Edition
Stefan Waner + 1 other
ISBN: 9781337274203
Textbook Problem

Demand Suppose the demand for a new brand of sneakers is given by q = 5 , 000 , 000 p , where p is the price per pair of sneakers in dollars and q is the number of pairs of sneakers that can be sold at price p. Find q ( 100 ) , and estimate q ' ( 100 ) . Interpret your answers. [HINT: See Example 1.]

To determine

To calculate: The value of q(100) and q'(100), if the demand for a new brand of sneakers is provided as q=5000000p where p is the price per pair of sneakers and q is the number of sneakers sold at a rate of p.

Explanation

Given Information:

The provided function is q=5000000p.

Formula used:

The quick approximation of the derivative states that:

If the function f is differential at a, the approximate value of f(a) can be calculated as,

f(a)=f(a+h)f(ah)2h

Where, the value of h=0.0001

Calculation:

Consider the function q=5000000p.

Calculate q(100) by substituting p=100 in the function q=5000000p:

q(100)=5000000(100)=5000000100=50000

Apply the quick approximation formula and substitute values a=100 and h=0.0001:

q(100)=q(100+0

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

In problems 17-30, simplify each expression so that only positive exponents remain. 26.

Mathematical Applications for the Management, Life, and Social Sciences

True or False: The graph of x = 5 is a cylinder.

Study Guide for Stewart's Multivariable Calculus, 8th

For , f′(x) =

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th 