Price–demand equation. Suppose that, in a given gourmet food store, people are willing to buy x pounds of chocolate candy per day at $ p per quarter pound, as given by the price–demand equation x = 10 + 180 p 2 ≤ p ≤ 10 This function is graphed in the figure. Find the demand and the instantaneous rate of change of demand with respect to price when the price is $5. Write a brief verbal interpretation of these results.
Price–demand equation. Suppose that, in a given gourmet food store, people are willing to buy x pounds of chocolate candy per day at $ p per quarter pound, as given by the price–demand equation x = 10 + 180 p 2 ≤ p ≤ 10 This function is graphed in the figure. Find the demand and the instantaneous rate of change of demand with respect to price when the price is $5. Write a brief verbal interpretation of these results.
Solution Summary: The author analyzes the demand and the instantaneous rate of change of demand for 5 chocolate candy.
Price–demand equation. Suppose that, in a given gourmet food store, people are willing to buy x pounds of chocolate candy per day at $p per quarter pound, as given by the price–demand equation
x
=
10
+
180
p
2
≤
p
≤
10
This function is graphed in the figure. Find the demand and the instantaneous rate of change of demand with respect to price when the price is $5. Write a brief verbal interpretation of these results.
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