7. Supply of a product increases according to the model S(p) = a In(p – b) thousand units per week at a price of p dollars per unit. Suppliers are first willing to provide the product when it is priced at 10 dollars per unit (in the sense that when p = 10, S(p) = 0). When charging 20 dollars per item, suppliers provide 3 thousand items per week. (a) Find the value of constants a and b in the supply function formula. (b) What is the mathematical domain of S? Is this different from the practical domain of S?

Q: 4. Given the reciprocal function, y = 1/x, if the values of x increase, then the values of y . . .…

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A: We plug p=2 in the given equation

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Q: The demand equation for a quantity q of a product, in hundreds, at price p, in million rands, is p =…

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Q: 2) A production function for a business follows the model P(L, K) = 0.1 L0.4K0.6 over the course of…

A: For a given production function we have to find the asked parameters.

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Q: 6. A liquid starts at a temperature of 190 F and cools down in a room held at a constant 65 'F.…

A: NOTE: Refresh your page if you can't see any equations. .  room temperature = 65 initial…

Q: The biological relationship between the growth for the fish population and the size of the fish…

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Q: Sally is cramming for a history exam. She has an amount of material M to memorize. Let x(t) denote…

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Q: Problem 7.3.4. Show that (n)=1 diverges to infinity.

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Q: The demand function for a commodity is given by D(z) = 2000 – 0.1z – 1.01z² Find the consumer…

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Q: Find the production schedule that satisfies an external demand for 10 units of magnesium and 20…

A: We using the formula that relates the technology matrix and demand matrix.

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Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.