The quantity demanded of a certain model of a VCR is 8000 units when the unit price is $260. As the unit price decreases by $3, the number of VCRs demanded increases by 100 units. The manufacturer will not market any VCRs if the price is $100 or lower. However, for each $50 increase in the unit price above $100, the manufacturer will market an additional 1000 units. Demand: (8000, 260), (8100, 257) Provide the equations for the linear demand and supply functions: Also, define the variables. D(x) is the price the consumer is willing to spend when purchasing x number of VCRs. S(x) is the price the manufacture is willing to sell x number of VCRs Answer: D(x) = (-3/100)X + 500 and S(x) = (5/100)X + 100
The quantity demanded of a certain model of a VCR is 8000 units when the unit price is $260. As the unit price decreases by $3, the number of VCRs demanded increases by 100 units. The manufacturer will not market any VCRs if the price is $100 or lower. However, for each $50 increase in the unit price above $100, the manufacturer will market an additional 1000 units. Demand: (8000, 260), (8100, 257) Provide the equations for the linear demand and supply functions: Also, define the variables. D(x) is the price the consumer is willing to spend when purchasing x number of VCRs. S(x) is the price the manufacture is willing to sell x number of VCRs Answer: D(x) = (-3/100)X + 500 and S(x) = (5/100)X + 100
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 quantity demanded of a certain model of a VCR is 8000 units when the unit price is $260. As the unit price decreases by $3, the number of VCRs demanded increases by 100 units. The manufacturer will not market any VCRs if the price is $100 or lower. However, for each $50 increase in the unit price above $100, the manufacturer will market an additional 1000 units. Demand: (8000, 260), (8100, 257)
Provide the equations for the linear demand and supply functions: Also, define the variables.
D(x) is the price the consumer is willing to spend when purchasing x number of VCRs.
S(x) is the price the manufacture is willing to sell x number of VCRs
Answer: D(x) = (-3/100)X + 500 and S(x) = (5/100)X + 100
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