p=22 Y=1500 ду p=22 Y=1500 p=22 Y=1500

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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p=22
Y=1500
ду
p=22
Y=1500
p=22
Y=1500
Transcribed Image Text:p=22 Y=1500 ду p=22 Y=1500 p=22 Y=1500
The demand function for Grinch Marble Works (GMW) is given by q = 7In(2y-6p²), where
q = quantity of marbles that GMW sells per month, measured in 1000s of Ibs of marbles,
p = price per Ib of marbles that GMW sets, measured in dollars,
Y = average monthly disposable income in the market, also measured in dollars.
The current price of a pound of marbles is po=$27, and the current average monthly disposable
income is Yo=$2600.
Transcribed Image Text:The demand function for Grinch Marble Works (GMW) is given by q = 7In(2y-6p²), where q = quantity of marbles that GMW sells per month, measured in 1000s of Ibs of marbles, p = price per Ib of marbles that GMW sets, measured in dollars, Y = average monthly disposable income in the market, also measured in dollars. The current price of a pound of marbles is po=$27, and the current average monthly disposable income is Yo=$2600.
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