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Demand Schedule for Sparkling Water in 12-ounce Bottles Price (dollars per bottle) 2.29 2.69 3.09 3.49 3.89 4.29 Demand (million bottles) 25 9 3 2 1 0.5 (a) Write the function for the exponential model that gives demand in million bottles, as a function of price per bottle p, with data from 2.29 s ps4.29. (Round all numerical values to ban decimal places. Be sure you use the correct input variable p.) D(p) 1520.417287(0.15) Does the model indicate a price above which consumers will purchase no bottles of water? The model is exponential and does not cross the horizontal axis. Therefore there is no price above which consumers will not purchase water (b) What quantity of water will consumers purchase when the market price is $3.837 (Round your answer to two decimal places.) 1,0020 ✔milion bottles (c) Calculate the amount that consumers willing and able to spend to purchase the quantity found in part (b). (Round your answer to one decimal place) x million (d) Calculate consumer surplus when the market price is $3.83. (Round your answer to two decimal places.) $ million: Update

Demand Schedule for Sparkling Water in 12-ounce Bottles Price (dollars per bottle) 2.29 2.69 3.09 3.49 3.89 4.29 Demand (million bottles) 25 9 3 2 1 0.5 (a) Write the function for the exponential model that gives demand in million bottles, as a function of price per bottle p, with data from 2.29 s ps4.29. (Round all numerical values to ban decimal places. Be sure you use the correct input variable p.) D(p) 1520.417287(0.15) Does the model indicate a price above which consumers will purchase no bottles of water? The model is exponential and does not cross the horizontal axis. Therefore there is no price above which consumers will not purchase water (b) What quantity of water will consumers purchase when the market price is $3.837 (Round your answer to two decimal places.) 1,0020 ✔milion bottles (c) Calculate the amount that consumers willing and able to spend to purchase the quantity found in part (b). (Round your answer to one decimal place) x million (d) Calculate consumer surplus when the market price is $3.83. (Round your answer to two decimal places.) $ million: Update

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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Demand Schedule for Sparkling Water in 12-ounce Bottles Price (dollars per bottle) 2.29 2.69 3.09 3.49 3.89 4.29 Demand (million bottles) 25 9 3 2 1 0.5 (a) Write the function for the exponential model that gives demand in million bottles, as a function of price per bottle p, with data from 2.29 sps4.29. (Round all numerical values to ba decimal places. Be sure you use the correct input variable p.) DXp) 1520.417287(0.15) Does the model indicate a price above which consumers will purchase no bottles of water? The model is exponential and does not cross the horizontal axis. Therefore there is no price above which consumers will not purchase water (b) What quantity of water will consumers purchase when the market price is $3.837 (Round your answer to two decimal places.) ✔milion bottles 10020 (c) Calculate the amount that consumers willing and able to spend to purchase the quantity found in part (b). (Round your answer to one decimal place) x million (d) Calculate consumer surplus when the market price is $3.83. (Round your answer to two decimal places.) $ million: Update
Transcribed Image Text:Demand Schedule for Sparkling Water in 12-ounce Bottles Price (dollars per bottle) 2.29 2.69 3.09 3.49 3.89 4.29 Demand (million bottles) 25 9 3 2 1 0.5 (a) Write the function for the exponential model that gives demand in million bottles, as a function of price per bottle p, with data from 2.29 sps4.29. (Round all numerical values to ba decimal places. Be sure you use the correct input variable p.) DXp) 1520.417287(0.15) Does the model indicate a price above which consumers will purchase no bottles of water? The model is exponential and does not cross the horizontal axis. Therefore there is no price above which consumers will not purchase water (b) What quantity of water will consumers purchase when the market price is $3.837 (Round your answer to two decimal places.) ✔milion bottles 10020 (c) Calculate the amount that consumers willing and able to spend to purchase the quantity found in part (b). (Round your answer to one decimal place) x million (d) Calculate consumer surplus when the market price is $3.83. (Round your answer to two decimal places.) $ million: Update
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