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Concept explainers
The correct option for the below statement:
A time series study of the demand for higher education, using tuition charges as a price variable yields
(A). As tuition rises, students want to buy greater quantity of education.
(B). As a determinant of the demand for higher education, income is more important than price.
(C). If colleges lowered tuition slightly their total tuition receipts would increase.
(D). If colleges raised tuition slightly their total tuition receipts would increase.
(E). Colleges cannot increase enrollments by offering larger scholarships.
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Chapter 5 Solutions
Bundle: Applied Calculus, Loose-leaf Version, 7th + Webassign Printed Access Card For Waner/costenoble's Applied Calculus, 7th Edition, Single-term
- Dieting A persons weight depends both on the daily rate of energy intake, say C calories per day, and on the daily rate of the energy consumption, typically between 15 and 20 calories per pound per day. Using an average value of 17.5 calories per pound per day, a person weighing w pounds uses 17.5wcalories per day. If C=17.5w, then weight remains constant, and weight gain or loss occurs according to whether C is greater or less than 17.5w. Source: The College Mathematics Journal. To determine how fast a change in weight will occur, the most plausible assumption is that dwdt is proportional to the net excess or deficit C17.5w in the number of calories per day. a. Assume C is constant and write a differential equation to express this relationship. Use k to represent the constant of proportionality. What does C being constant imply? b. The units of dwdt are pounds per day, and the units of C17.5w are calories per day. What units must k have? c. Use the fact that 3500 calories is equivalent to 1 lb to rewrite the differential equation in part a. d. Solve the differential equation. e. Let w0 represent the initial weight and use it to express the coefficient of e0.005t in terms of w0 and C.arrow_forwardRedo Exercise 5, assuming that the house blend contains 300 grams of Colombian beans, 50 grams of Kenyan beans, and 150 grams of French roast beans and the gourmet blend contains 100 grams of Colombian beans, 350 grams of Kenyan beans, and 50 grams of French roast beans. This time the merchant has on hand 30 kilograms of Colombian beans, 15 kilograms of Kenyan beans, and 15 kilograms of French roast beans. Suppose one bag of the house blend produces a profit of $0.50, one bag of the special blend produces a profit of $1.50, and one bag of the gourmet blend produces a profit of $2.00. How many bags of each type should the merchant prepare if he wants to use up all of the beans and maximize his profit? What is the maximum profit?arrow_forward
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