Suppose a gas station has the linear demand function D(p) = 1200 – 200p. According to this function, how many gallons of gas can the gas station owners expect to sell per month if the price is set at $4 per gallon?

Q: Suppose the demand for a product is q = 1080 – 0.1 p. Determine the price, p, that results in…

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Q: Which of the following situations would be the best captured by a composition of two or more…

A: Aim:  To find the situation which can be expressed by a following two conditions:  It should be…

Q: 9. Starbucks noticed that when they charged $2.50 for a cup of coffee, they sold 230,000 Ibs of…

A: Given                  C(x) = Coffee (in pounds ) sold.                       x = price per cup And…

Q: Suppose that a company that makes sweatshirts has a linear demand function of qD = –6p + 400 and a…

A: Given, demand function, Supply function is For equilibrium, we have,

Q: Suppose that a company that makes sweatshirts has a linear demand function of qD = –13p + 500 and a…

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Q: Consider the market for lollies where if the price per lolly is $4, total market demand for lollies…

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Q: A store can sell 400 candy bars per week when the price is $0.50 per candy bar and they can sell 350…

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Q: Which of the following shows that the price p increases as the demand d increases?

A: Explanation: If price P is increases as the demand d increases. It means graph shows the straight…

Q: 4. A particular automobile is worth $15,200 today and will be worth $9,800 in three years. a) At…

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Q: The reorder point is defined as the lead-time demand for an item. In cases of long lead times, the…

A: Introduction: To calculate the reorder point in terms of the inventory position and in terms of the…

Q: Assume an individual's demand function for a good is given by the following expression: qd (p) = 20…

A: Current Price: $4 (p=4) Demand function on current Price=20-2p = 20- 2(4) = 12 Price decreased by 1%…

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.