economists interested in price stability have established that the function p(t) = (p0 - pe)e^(k(a -A)t )+pe relates the current price of commodity to the time t in months since it was initially priced at p0 dollars, where pe represents the equilibrium price of the commodity, and the numbers a and A are constants that depend on the supply and semsnd of the item. If the commodity was originally priced at $39 and the equilibrium price is $32 and k = 0.11, a = 4, and A = 6, what is the expected price of the item 15 months after its initial pricing? Round to the nearest cent $______
economists interested in price stability have established that the function p(t) = (p0 - pe)e^(k(a -A)t )+pe relates the current price of commodity to the time t in months since it was initially priced at p0 dollars, where pe represents the equilibrium price of the commodity, and the numbers a and A are constants that depend on the supply and semsnd of the item. If the commodity was originally priced at $39 and the equilibrium price is $32 and k = 0.11, a = 4, and A = 6, what is the expected price of the item 15 months after its initial pricing? Round to the nearest cent $______
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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economists interested in price stability have established that the function p(t) = (p0 - pe)e^(k(a -A)t )+pe relates the current price of commodity to the time t in months since it was initially priced at p0 dollars, where pe represents the equilibrium price of the commodity, and the numbers a and A are constants that depend on the supply and semsnd of the item. If the commodity was originally priced at $39 and the equilibrium price is $32 and k = 0.11, a = 4, and A = 6, what is the expected price of the item 15 months after its initial pricing? Round to the nearest cent
$______
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