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A food stand at the Kensington farmers market sells croissants. The owner of the stand observed that the demand z (= number of crois on the price p (= price in dollars) according to the following equation p = 5 – In(2), 5

A food stand at the Kensington farmers market sells croissants. The owner of the stand observed that the demand z (= number of crois on the price p (= price in dollars) according to the following equation p = 5 – In(2), 5

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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A food stand at the Kensington farmers market sells croissants. The owner of the stand observed that the demand x (= number of croissants) for the croissants depends on the price p (= price in dollars) according to the following equation p= 5 – In(x), 5 < ¤ < 500. Suppose that the cost of baking each croissant is 1 dollar. Find the optimal price at which the stand can maximize its profit. Price = dollars proviouM answers
Transcribed Image Text:A food stand at the Kensington farmers market sells croissants. The owner of the stand observed that the demand x (= number of croissants) for the croissants depends on the price p (= price in dollars) according to the following equation p= 5 – In(x), 5 < ¤ < 500. Suppose that the cost of baking each croissant is 1 dollar. Find the optimal price at which the stand can maximize its profit. Price = dollars proviouM answers
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