Concept explainers
Demand: Smartphones The worldwide demand for smartphones may be modeled by
a. Use the demand function to estimate, to the nearest million units, worldwide sales of smartphones if the price is $110.
b. Extrapolate the demand function to estimate, to the nearest million units, worldwide sales of smartphones if the price is $90.
c. Model the worldwide annual revenue from the sale of smartphones as a function of unit price, and use your model to estimate, to the nearest billion dollars, worldwide annual revenue when the price is set at $110.
[Hint:
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d. Graph the function you obtained in part (c). According to the graph, does worldwide revenue increase or decrease as the price decreases past $110?
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Applied Calculus
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