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9. A company that produces widgets has found its demand function to be q=-1,500p +90,000. a. For each dollar increase in the wholesale price, how many fewer widgets are demanded? b. How many widgets would be demanded at a price of $20? c. How many widgets would be demanded at a price of $21?

9. A company that produces widgets has found its demand function to be q=-1,500p +90,000. a. For each dollar increase in the wholesale price, how many fewer widgets are demanded? b. How many widgets would be demanded at a price of $20? c. How many widgets would be demanded at a price of $21?

Advanced Engineering Mathematics
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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9. A company that produces widgets has found its demand function to be q=-1,500p + 90,000. a. For each dollar increase in the wholesale price, how many fewer widgets are demanded? b. How many widgets would be demanded at a price of $20? c. How many widgets would be demanded at a price of $21? d. What is the difference in quantity demanded caused by the $1 increase in wholesale price? e. The company sets a price of $22.50. How many widgets will be demanded? f. How much will all of the widgets cost the store to purchase at a price of $22.50? g. If the store marks up the widgets that cost $22.50 at a rate of 50%, what is the retail price of each widget?
Transcribed Image Text:9. A company that produces widgets has found its demand function to be q=-1,500p + 90,000. a. For each dollar increase in the wholesale price, how many fewer widgets are demanded? b. How many widgets would be demanded at a price of $20? c. How many widgets would be demanded at a price of $21? d. What is the difference in quantity demanded caused by the $1 increase in wholesale price? e. The company sets a price of $22.50. How many widgets will be demanded? f. How much will all of the widgets cost the store to purchase at a price of $22.50? g. If the store marks up the widgets that cost $22.50 at a rate of 50%, what is the retail price of each widget?
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