Answered: demand function for a certain brand of…

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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The demand function for a certain brand of mattress is given by

p = 600e^−0.02x

where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded per month. (Round your answers to the nearest integer.)

Transcribed Image Text:The demand function for a certain brand of mattress is given by p = 600e-0.02x where p is the unit price in dollars and x (in units of a hundred) is the quantity demanded per month. (Round your answers to the nearest integer.) (a) Find the number of mattresses demanded per month if the unit price is set at $400/mattress. mattresses (b) Use the results of part (a) to find the consumers' surplus if the selling price is set at $400 per mattress. $

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