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Calculus
6th Edition
ISBN: 9781465208880
Author: SMITH KARL J, STRAUSS MONTY J, TODA MAGDALENA DANIELE
Publisher: Kendall Hunt Publishing
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Concept explainers
Question
Chapter 11.3, Problem 42PS
a.
To determine
To explain:
b.
To determine
To explain: That
c.
To determine
To give: Example of substitutes goods.
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Students have asked these similar questions
A group sells bird feeders to raise money. The group sells an average of 10 feeders per week at a price of $35 per feeder. The group conducts a survey and finds for every five dollar increase in price, it will lose two sales per week.
A) What is the demand function for the bird feeders, that is, what is the average quantitiy q of the feeders sold as a function of price p per feeder?
B) find a function that models the revenue R in terms of price p per feeder.
C) What price should be charged to maximize the revenue?
D) What would the mximun revenue be at that price?
Suppose that the supply and demand sets for a particular market are given byS = { (q,p) | 3p - q = 5 } and D = { (q,p) | 3p + q2 + 2q = 9 } .a. Determine the supply function qS, the demand function qD, and state clearly the domain and range of each.b. Determine the inverse supply function pS, and the inverse demand function pD, and state clearly the domain and range of each
If the revenue function for a particular commodity is R(p)
q(p) =
Give a reason for your answer.
q
р
OR = pq
OR=q-p
R = 2²₂
O
O
R =
R = p + q
=
-56p² + 62p, what is the (linear) demand function q(p)?
Chapter 11 Solutions
Calculus
Ch. 11.1 - Prob. 1PSCh. 11.1 - Prob. 2PSCh. 11.1 - Prob. 3PSCh. 11.1 - Prob. 4PSCh. 11.1 - Prob. 5PSCh. 11.1 - Prob. 6PSCh. 11.1 - Prob. 7PSCh. 11.1 - Prob. 8PSCh. 11.1 - Prob. 9PSCh. 11.1 - Prob. 10PS
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Prob. 15PSCh. 11.5 - Prob. 16PSCh. 11.5 - Prob. 17PSCh. 11.5 - Prob. 18PSCh. 11.5 - Prob. 19PSCh. 11.5 - Prob. 20PSCh. 11.5 - Prob. 21PSCh. 11.5 - Prob. 22PSCh. 11.5 - Prob. 23PSCh. 11.5 - Prob. 24PSCh. 11.5 - Prob. 25PSCh. 11.5 - Prob. 26PSCh. 11.5 - Prob. 27PSCh. 11.5 - Prob. 28PSCh. 11.5 - Prob. 29PSCh. 11.5 - Prob. 30PSCh. 11.5 - Prob. 31PSCh. 11.5 - Prob. 32PSCh. 11.5 - Prob. 33PSCh. 11.5 - Prob. 34PSCh. 11.5 - Prob. 35PSCh. 11.5 - Prob. 36PSCh. 11.5 - Prob. 37PSCh. 11.5 - Prob. 38PSCh. 11.5 - Prob. 39PSCh. 11.5 - Prob. 40PSCh. 11.5 - Prob. 41PSCh. 11.5 - Prob. 42PSCh. 11.5 - Prob. 43PSCh. 11.5 - Prob. 44PSCh. 11.5 - Prob. 45PSCh. 11.5 - Prob. 46PSCh. 11.5 - Prob. 47PSCh. 11.5 - Prob. 48PSCh. 11.5 - Prob. 49PSCh. 11.5 - Prob. 50PSCh. 11.5 - Prob. 51PSCh. 11.5 - Prob. 52PSCh. 11.5 - Prob. 53PSCh. 11.5 - Prob. 54PSCh. 11.5 - Prob. 55PSCh. 11.5 - Prob. 56PSCh. 11.5 - Prob. 57PSCh. 11.5 - Prob. 58PSCh. 11.5 - Prob. 59PSCh. 11.5 - Prob. 60PSCh. 11.6 - Prob. 1PSCh. 11.6 - Prob. 2PSCh. 11.6 - Prob. 3PSCh. 11.6 - Prob. 4PSCh. 11.6 - Prob. 5PSCh. 11.6 - Prob. 6PSCh. 11.6 - Prob. 7PSCh. 11.6 - Prob. 8PSCh. 11.6 - Prob. 9PSCh. 11.6 - Prob. 10PSCh. 11.6 - Prob. 11PSCh. 11.6 - Prob. 12PSCh. 11.6 - Prob. 13PSCh. 11.6 - Prob. 14PSCh. 11.6 - Prob. 15PSCh. 11.6 - Prob. 16PSCh. 11.6 - Prob. 17PSCh. 11.6 - Prob. 18PSCh. 11.6 - Prob. 19PSCh. 11.6 - Prob. 20PSCh. 11.6 - Prob. 21PSCh. 11.6 - Prob. 22PSCh. 11.6 - Prob. 23PSCh. 11.6 - Prob. 24PSCh. 11.6 - Prob. 25PSCh. 11.6 - Prob. 26PSCh. 11.6 - Prob. 27PSCh. 11.6 - Prob. 28PSCh. 11.6 - Prob. 29PSCh. 11.6 - Prob. 30PSCh. 11.6 - Prob. 31PSCh. 11.6 - Prob. 32PSCh. 11.6 - Prob. 33PSCh. 11.6 - Prob. 34PSCh. 11.6 - Prob. 35PSCh. 11.6 - Prob. 36PSCh. 11.6 - Prob. 37PSCh. 11.6 - Prob. 38PSCh. 11.6 - Prob. 39PSCh. 11.6 - Prob. 40PSCh. 11.6 - Prob. 41PSCh. 11.6 - Prob. 42PSCh. 11.6 - Prob. 43PSCh. 11.6 - Prob. 44PSCh. 11.6 - Prob. 45PSCh. 11.6 - Prob. 46PSCh. 11.6 - Prob. 47PSCh. 11.6 - Prob. 48PSCh. 11.6 - Prob. 49PSCh. 11.6 - Prob. 50PSCh. 11.6 - 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Prob. 40PSCh. 11.7 - Prob. 41PSCh. 11.7 - Prob. 42PSCh. 11.7 - Prob. 43PSCh. 11.7 - Prob. 44PSCh. 11.7 - Prob. 45PSCh. 11.7 - Prob. 46PSCh. 11.7 - Prob. 47PSCh. 11.7 - Prob. 48PSCh. 11.7 - Prob. 49PSCh. 11.7 - Prob. 50PSCh. 11.7 - Prob. 51PSCh. 11.7 - Prob. 52PSCh. 11.7 - Prob. 53PSCh. 11.7 - Prob. 54PSCh. 11.7 - Prob. 55PSCh. 11.7 - Prob. 56PSCh. 11.7 - Prob. 57PSCh. 11.7 - Prob. 58PSCh. 11.7 - Prob. 59PSCh. 11.7 - Prob. 60PSCh. 11.8 - Prob. 1PSCh. 11.8 - Prob. 2PSCh. 11.8 - Prob. 3PSCh. 11.8 - Prob. 4PSCh. 11.8 - Prob. 5PSCh. 11.8 - Prob. 6PSCh. 11.8 - Prob. 7PSCh. 11.8 - Prob. 8PSCh. 11.8 - Prob. 9PSCh. 11.8 - Prob. 10PSCh. 11.8 - Prob. 11PSCh. 11.8 - Prob. 12PSCh. 11.8 - Prob. 13PSCh. 11.8 - Prob. 14PSCh. 11.8 - Prob. 15PSCh. 11.8 - Prob. 16PSCh. 11.8 - Prob. 17PSCh. 11.8 - Prob. 18PSCh. 11.8 - Prob. 19PSCh. 11.8 - Prob. 20PSCh. 11.8 - Prob. 21PSCh. 11.8 - Prob. 22PSCh. 11.8 - Prob. 23PSCh. 11.8 - Prob. 24PSCh. 11.8 - Prob. 25PSCh. 11.8 - Prob. 26PSCh. 11.8 - Prob. 27PSCh. 11.8 - Prob. 28PSCh. 11.8 - 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- 23. Consider a simple economy with just two industries: farming and manufacturing. Farming consumes 1/2 of the food and 1/3 of the manufactured goods. Manufacturing consumes 1/2 of the food and 2/3 of the manufactured goods. Assuming the economy is closed and in equilibrium, find the relative outputs of the farming and manufacturing industries.arrow_forwardThe demand functions for two products are given below. P₁, P2, 91, and 92 are the prices (in dollars) and quantities for products 1 and 2. 91 = 1200 - 2p1 - 5p2 92 = 1300 - 5p1 - 3p2 What is the quantity demanded for each when the price for product 1 is $30 per item and the price for product 2 is $10 per item? Demand for product 1: Demand for product 2: Are these two products complementary goods or substitute goods? Select an answerarrow_forwardUse the following general linear demand function below: Qd = a + bP + cM + dPRwhereQd = quantity demanded, P = the price of the good, M = income, PR = the price of a good related in consumption.For the general linear demand function given above b is the effect on the quantity demanded of the good of a one-dollar change in the price of the good, all other things constant. d is the effect on the quantity demanded of the good of a one-dollar change in the price of the related good, all other things constant. ΔQd / ΔM = c. all of the abovearrow_forward
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