4. The demand function for a piece of computer software is given by p=850e-003x where p= the price per unit when x units are demanded. a. Find the price when 900 units are demanded. b. Find the quantity demanded when the price is $40. Show your work.
4. The demand function for a piece of computer software is given by p=850e-003x where p= the price per unit when x units are demanded. a. Find the price when 900 units are demanded. b. Find the quantity demanded when the price is $40. Show your work.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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![### Demand Function for Computer Software
The demand function for a piece of computer software is given by:
\[ p = 850e^{-0.003x} \]
where \( p \) is the price per unit when \( x \) units are demanded.
#### a. Find the price when 900 units are demanded.
To find the price when 900 units are demanded, substitute \( x = 900 \) into the equation:
\[ p = 850e^{-0.003 \times 900} \]
Calculate to find the price.
#### b. Find the quantity demanded when the price is $40. Show your work.
To find the quantity demanded when the price is $40, set \( p = 40 \) and solve for \( x \):
\[ 40 = 850e^{-0.003x} \]
Rearrange and solve for \( x \) to find the quantity demanded.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc9ef355a-fb22-427b-b06e-27c19f3d746c%2F37a9d687-2014-4f99-92ce-38c0ccc6025f%2Fqnperws_processed.jpeg&w=3840&q=75)
Transcribed Image Text:### Demand Function for Computer Software
The demand function for a piece of computer software is given by:
\[ p = 850e^{-0.003x} \]
where \( p \) is the price per unit when \( x \) units are demanded.
#### a. Find the price when 900 units are demanded.
To find the price when 900 units are demanded, substitute \( x = 900 \) into the equation:
\[ p = 850e^{-0.003 \times 900} \]
Calculate to find the price.
#### b. Find the quantity demanded when the price is $40. Show your work.
To find the quantity demanded when the price is $40, set \( p = 40 \) and solve for \( x \):
\[ 40 = 850e^{-0.003x} \]
Rearrange and solve for \( x \) to find the quantity demanded.
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