A tire company has found that the quantity demanded x, in thousands of units per week, of their best-selling tire is related to the unit price p by the equation (see image). A.) Use differentials to find an approximate change in the quantity of tires demanded per week if the unit price of the tires is increased from $119 to $122 per tire. B.) Use your calculator to find the actual demand for tires when the price is set at $119 and $122 per tire. Then find the difference in demand. C.) Explain why the answers to parts A and B are not the same.

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...
icon
Related questions
Question
100%

A tire company has found that the quantity demanded x, in thousands of units per week, of their best-selling tire is related to the unit price p by the equation (see image).

A.) Use differentials to find an approximate change in the quantity of tires demanded per week if the unit price of the tires is increased from $119 to $122 per tire.

B.) Use your calculator to find the actual demand for tires when the price is set at $119 and $122 per tire. Then find the difference in demand.

C.) Explain why the answers to parts A and B are not the same.

|144 – p for 0 <p<144, where p is measured in dollars
Transcribed Image Text:|144 – p for 0 <p<144, where p is measured in dollars
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Numerical Differentiation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Precalculus
Precalculus
Calculus
ISBN:
9780135189405
Author:
Michael Sullivan
Publisher:
PEARSON
Calculus: Early Transcendental Functions
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning