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Concept explainers
Demand and Profit To generate a profit from its new o’Tunes service, OHaganBooks.com needs to know how the demand for music albums depends on the price it charges. During the first week of the service, it was charging $7 per album and sold 500. Raising the price to $9.50 had the effect of lowering demand to 300 albums per week.
a. Use the given data to construct a linear demand equation.
b. Use the demand equation you constructed in part (a) to estimate the demand if the price were raised to $12 per album.
c. Using the information on cost given in Exercise 39, determine which of the three prices ($7, $9 .50, and $12) would result in the largest weekly profit, and the size of that profit.
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Chapter 1 Solutions
Finite Mathematics and Applied Calculus (MindTap Course List)
- Find the point at which the line (t) = (4, -5,-4)+t(-2, -1,5) intersects the xy plane.arrow_forwardFind the distance from the point (-9, -3, 0) to the line ä(t) = (−4, 1, −1)t + (0, 1, −3) .arrow_forward1 Find a vector parallel to the line defined by the parametric equations (x(t) = -2t y(t) == 1- 9t z(t) = -1-t Additionally, find a point on the line.arrow_forward
- Find the (perpendicular) distance from the line given by the parametric equations (x(t) = 5+9t y(t) = 7t = 2-9t z(t) to the point (-1, 1, −3).arrow_forwardLet ä(t) = (3,-2,-5)t + (7,−1, 2) and (u) = (5,0, 3)u + (−3,−9,3). Find the acute angle (in degrees) between the lines:arrow_forwardA tank initially contains 50 gal of pure water. Brine containing 3 lb of salt per gallon enters the tank at 2 gal/min, and the (perfectly mixed) solution leaves the tank at 3 gal/min. Thus, the tank is empty after exactly 50 min. (a) Find the amount of salt in the tank after t minutes. (b) What is the maximum amount of salt ever in the tank?arrow_forward
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