1. Daily sales of a firm follows the formula 20,000 s(t) = 20,000 - 1 + 20,000e 0,2t where t is time in days since January 1, and s(t) represents the number of output units sold per day at time t. (a) Obtain a formula for s'(t), and hence estimate how fast sales were dropping at the end of March (t = 90). Ans: -1.22 (b) How fast were sales dropping 10 days later? Approximately how many units of output were sold that day? Ans: 0.82 (approximately 1 unit)

1. Daily sales of a firm follows the formula 20,000 s(t) = 20,000 - 1 + 20,000e 0,2t where t is time in days since January 1, and s(t) represents the number of output units sold per day at time t. (a) Obtain a formula for s'(t), and hence estimate how fast sales were dropping at the end of March (t = 90). Ans: -1.22 (b) How fast were sales dropping 10 days later? Approximately how many units of output were sold that day? Ans: 0.82 (approximately 1 unit)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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