Price–demand. The marginal price dp / dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $1000 per unit [ p (0) = 1000], and there is a weekly demand of 10 units at a price of $367.88 per unit [ p (10) = 367.88]. (A) Find the price–demand equation. (B) At a demand of 20 units per week, what is the price? (C) Graph the price–demand equation for 0 ≤ x ≤ 25.
Price–demand. The marginal price dp / dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $1000 per unit [ p (0) = 1000], and there is a weekly demand of 10 units at a price of $367.88 per unit [ p (10) = 367.88]. (A) Find the price–demand equation. (B) At a demand of 20 units per week, what is the price? (C) Graph the price–demand equation for 0 ≤ x ≤ 25.
Solution Summary: The author calculates that the marginal price is proportional to the price p.
Price–demand. The marginal price dp/dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $1000 per unit [p(0) = 1000], and there is a weekly demand of 10 units at a price of $367.88 per unit [p(10) = 367.88].
(A) Find the price–demand equation.
(B) At a demand of 20 units per week, what is the price?
(C) Graph the price–demand equation for 0 ≤ x ≤ 25.
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