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You have an internship where you are helping track re he price in dollars of a gadget and q = f(p) is the quar revenue (in thousands of dollars) is given by R=p -f given the following: I. f'(15) = 3 If the price increases from $15 to $20 then th

You have an internship where you are helping track re he price in dollars of a gadget and q = f(p) is the quar revenue (in thousands of dollars) is given by R=p -f given the following: I. f'(15) = 3 If the price increases from $15 to $20 then th

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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You have an internship where you are helping track revenue and sales. Suppose that p is the price in dollars of a gadget and q = f(p) is the quantity sold (in hundreds). Then the revenue (in thousands of dollars) is given by R = p f(p), depending on the price. You are given the following: I. f'(15) = 3 If the price increases from $15 to $20 then the company expects to sell 3 hun- dred more gadgets. When the price is $3, the company sells 60 hundred gadgets. When the company sells 3 hundred gadgets, the price is $60 each. If the price increases from $15 to $16 then the company expects to sell about 3 hundred more gadgets. Match the mathematical expression with the best interpretation.
Transcribed Image Text:You have an internship where you are helping track revenue and sales. Suppose that p is the price in dollars of a gadget and q = f(p) is the quantity sold (in hundreds). Then the revenue (in thousands of dollars) is given by R = p f(p), depending on the price. You are given the following: I. f'(15) = 3 If the price increases from $15 to $20 then the company expects to sell 3 hun- dred more gadgets. When the price is $3, the company sells 60 hundred gadgets. When the company sells 3 hundred gadgets, the price is $60 each. If the price increases from $15 to $16 then the company expects to sell about 3 hundred more gadgets. Match the mathematical expression with the best interpretation.
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