Applied Calculus
7th Edition
ISBN: 9781337291248
Author: Waner, Stefan.
Publisher: Cengage Learning,
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Textbook Question
Chapter 5.6, Problem 23E
Modeling Exponential Demand As the new owner of a supermarket, you have inherited a large inventory of unsold imported Limburger cheese, and you would like to set the price so that your revenue from selling it is as large as possible. Previous sales figures of the cheese are shown in the following table:
|
|
$3.00 | $4.00 | $5.00 |
|
|
407 | 287 | 223 |
a. Use the sales figures for the prices $3 and $5 per pound to construct a demand function of the form
b. Use your demand function to find the price elasticity of demand at each of the prices listed.
c. At what price should you sell the cheese to maximize monthly revenue?
d. If your total inventory of cheese amounts to only 200 pounds and it will spoil 1 month from now, how should you price it to receive the greatest revenue? Is this the same answer you got in part (c)? If not, give a brief explanation.
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Chapter 5 Solutions
Applied Calculus
Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - Prob. 6ECh. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - Prob. 10E
Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 112, locate and classify all extrema...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - Prob. 16ECh. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - Prob. 22ECh. 5.1 - Prob. 23ECh. 5.1 - Prob. 24ECh. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - Prob. 30ECh. 5.1 - Prob. 31ECh. 5.1 - Prob. 32ECh. 5.1 - Prob. 33ECh. 5.1 - Prob. 34ECh. 5.1 - Prob. 35ECh. 5.1 - Prob. 36ECh. 5.1 - Prob. 37ECh. 5.1 - Prob. 38ECh. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - Prob. 40ECh. 5.1 - Prob. 41ECh. 5.1 - Prob. 42ECh. 5.1 - In Exercises 13-44, find the exact location of all...Ch. 5.1 - Prob. 44ECh. 5.1 - Prob. 45ECh. 5.1 - Prob. 46ECh. 5.1 - Prob. 47ECh. 5.1 - Prob. 48ECh. 5.1 - In Exercises 4956 the graph of the derivative of a...Ch. 5.1 - Prob. 50ECh. 5.1 - Prob. 51ECh. 5.1 - Prob. 52ECh. 5.1 - In Exercises 4956 the graph of the derivative of a...Ch. 5.1 - Prob. 54ECh. 5.1 - Prob. 55ECh. 5.1 - In Exercises 4956 the graph of the derivative of a...Ch. 5.1 - Prob. 57ECh. 5.1 - Prob. 58ECh. 5.1 - Draw the graph of a function that has stationary...Ch. 5.1 - Draw the graph of a function that has relative,...Ch. 5.1 - If a stationary point is not a relative maximum,...Ch. 5.1 - If one endpoint is a relative maximum, must the...Ch. 5.1 - We said that if f is continuous on a closed...Ch. 5.1 - Prob. 64ECh. 5.1 - Prob. 65ECh. 5.1 - Prob. 66ECh. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - In Exercises 1-8, solve the given optimization...Ch. 5.2 - For a rectangle with perimeter 20 to have the...Ch. 5.2 - For a rectangle with area 100 to have the smallest...Ch. 5.2 - Advertising Costs The cost, in thousands of...Ch. 5.2 - Advertising Costs The cost, in billions of...Ch. 5.2 - Average Cost: iPhones Assume that it costs Apple...Ch. 5.2 - Prob. 14ECh. 5.2 - Pollution Control The cost of controlling...Ch. 5.2 - Prob. 16ECh. 5.2 - Pollution Control (Compare Exercise 15.) 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[HINT: See...Ch. 5.3 - Prob. 2ECh. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1-10, calculate d2ydx2. [HINT: See...Ch. 5.3 - In Exercises 1116 the position s of a point (in...Ch. 5.3 - In Exercises 1116 the position s of a point (in...Ch. 5.3 - In Exercises 1116 the position s of a point (in...Ch. 5.3 - In Exercises 1116 the position s of a point (in...Ch. 5.3 - In Exercises 1116 the position s of a point (in...Ch. 5.3 - In Exercises 1116 the position s of a point (in...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 1724 the graph of a function is...Ch. 5.3 - In Exercises 2528 the graph of the derivative,...Ch. 5.3 - In Exercises 2528 the graph of the derivative,...Ch. 5.3 - In Exercises 2528 the graph of the derivative,...Ch. 5.3 - In Exercises 2528 the graph of the derivative,...Ch. 5.3 - In Exercises 2932 the graph of the second...Ch. 5.3 - In Exercises 2932 the graph of the second...Ch. 5.3 - In Exercises 2932 the graph of the second...Ch. 5.3 - Prob. 32ECh. 5.3 - In Exercises 3344, find the x-coordinates of all...Ch. 5.3 - In Exercises 3344, find the x-coordinates of all...Ch. 5.3 - In Exercises 3344, find the x-coordinates of all...Ch. 5.3 - Prob. 36ECh. 5.3 - Prob. 37ECh. 5.3 - In Exercises 3344, find the x-coordinates of all...Ch. 5.3 - Prob. 39ECh. 5.3 - Prob. 40ECh. 5.3 - Prob. 41ECh. 5.3 - Prob. 42ECh. 5.3 - Prob. 43ECh. 5.3 - Prob. 44ECh. 5.3 - Prob. 45ECh. 5.3 - Prob. 46ECh. 5.3 - Prob. 47ECh. 5.3 - Prob. 48ECh. 5.3 - Prob. 49ECh. 5.3 - Prob. 50ECh. 5.3 - Prob. 51ECh. 5.3 - Prob. 52ECh. 5.3 - Prob. 53ECh. 5.3 - Prob. 54ECh. 5.3 - Acceleration on Mars If a stone is dropped from a...Ch. 5.3 - Acceleration on the Moon If a stone is thrown up...Ch. 5.3 - Motion in a Straight Line The position of a...Ch. 5.3 - Motion in a Straight Line The position of a...Ch. 5.3 - Bottled Water Sales Annual sales of bottled water...Ch. 5.3 - Bottled Water Sales Annual U.S. per capita sales...Ch. 5.3 - Prob. 61ECh. 5.3 - Embryo Development The daily oxygen consumption of...Ch. 5.3 - Inflation The following graph shows the...Ch. 5.3 - Inflation The following graph shows the...Ch. 5.3 - Inflation The following graph shows the...Ch. 5.3 - Inflation The following graph shows the...Ch. 5.3 - Scientific Research: 19832003 The percentage of...Ch. 5.3 - Scientific Research: 19832003 The percentage of...Ch. 5.3 - Prob. 69ECh. 5.3 - Prob. 70ECh. 5.3 - Prob. 71ECh. 5.3 - Prob. 72ECh. 5.3 - Epidemics The following graph shows the total...Ch. 5.3 - Prob. 74ECh. 5.3 - Prob. 75ECh. 5.3 - Prob. 76ECh. 5.3 - Prob. 77ECh. 5.3 - Prob. 78ECh. 5.3 - Prob. 79ECh. 5.3 - Prob. 80ECh. 5.3 - Prob. 81ECh. 5.3 - Oil Imports from Mexico Repeat Exercises 81 using...Ch. 5.3 - Prob. 83ECh. 5.3 - Prob. 84ECh. 5.3 - Prob. 85ECh. 5.3 - Prob. 86ECh. 5.3 - 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Prob. 25ECh. 5.4 - Prob. 26ECh. 5.4 - Prob. 27ECh. 5.4 - Prob. 28ECh. 5.4 - Prob. 29ECh. 5.4 - Prob. 30ECh. 5.4 - Home Prices The following graph shows a rough...Ch. 5.4 - Prob. 32ECh. 5.4 - Prob. 33ECh. 5.4 - Prob. 34ECh. 5.4 - Consumer Price Index The following graph shows the...Ch. 5.4 - Consumer Price Index The following graph shows the...Ch. 5.4 - Prob. 37ECh. 5.4 - Prob. 38ECh. 5.4 - Prob. 39ECh. 5.4 - Average Cost: PlayStation 4s Assume that it costs...Ch. 5.4 - Prob. 41ECh. 5.4 - Subprime Mortgage Debt during the Housing Bubble...Ch. 5.4 - Prob. 43ECh. 5.4 - Prob. 44ECh. 5.4 - Prob. 45ECh. 5.4 - Prob. 46ECh. 5.4 - Prob. 47ECh. 5.4 - Prob. 48ECh. 5.4 - Prob. 49ECh. 5.4 - Prob. 50ECh. 5.5 - Rewrite the statements and questions in Exercises...Ch. 5.5 - Rewrite the statements and questions in Exercises...Ch. 5.5 - Prob. 3ECh. 5.5 - Rewrite the statements and questions in Exercises...Ch. 5.5 - Prob. 5ECh. 5.5 - Prob. 6ECh. 5.5 - Rewrite the statements and questions in Exercises...Ch. 5.5 - Rewrite the statements and questions in Exercises...Ch. 5.5 - Prob. 9ECh. 5.5 - Puddles The radius of a circular puddle is growing...Ch. 5.5 - Balloons A spherical party balloon is being...Ch. 5.5 - Prob. 12ECh. 5.5 - Prob. 13ECh. 5.5 - Prob. 14ECh. 5.5 - Sliding Ladders The base of a 50-foot ladder is...Ch. 5.5 - Prob. 16ECh. 5.5 - Prob. 17ECh. 5.5 - Descending Elevator You are situated 300 feet from...Ch. 5.5 - Average Cost The average cost function for the...Ch. 5.5 - Average Cost Repeat Exercise 19, using the revised...Ch. 5.5 - Demand Demand for your tie-dyed T-shirts is given...Ch. 5.5 - Supply The number of retro portable CD players you...Ch. 5.5 - Revenue You can now sell 50 cups of lemonade per...Ch. 5.5 - Revenue You can now sell 40 cars per month at...Ch. 5.5 - Oil Revenues Daily oil production by Pemex,...Ch. 5.5 - Oil Expenditures Daily oil imports to the United...Ch. 5.5 - Resource Allocation Your company manufactures...Ch. 5.5 - Resource Allocation Your company is the largest...Ch. 5.5 - Production The automobile assembly plant you...Ch. 5.5 - Prob. 30ECh. 5.5 - Prob. 31ECh. 5.5 - Demand The demand equation for rubies at Royal...Ch. 5.5 - Ships Sailing Apart The H.M.S. Dreadnaught is 40...Ch. 5.5 - Near Miss My aunt and I were approaching the same...Ch. 5.5 - Baseball A baseball diamond is a square with side...Ch. 5.5 - Baseball Refer to Exercise 35. Another player is...Ch. 5.5 - Prob. 37ECh. 5.5 - Prob. 38ECh. 5.5 - Prob. 39ECh. 5.5 - Prob. 40ECh. 5.5 - Prob. 41ECh. 5.5 - Grades A production formula for a students...Ch. 5.5 - Cones A right circular conical vessel is being...Ch. 5.5 - More Cones A circular conical vessel is being...Ch. 5.5 - Prob. 45ECh. 5.5 - Prob. 46ECh. 5.5 - Computers vs. Income In the 1990s the demand for...Ch. 5.5 - Computers vs. Income Refer back to the model in...Ch. 5.5 - Prob. 49ECh. 5.5 - Prob. 50ECh. 5.5 - Prob. 51ECh. 5.5 - Prob. 52ECh. 5.5 - Prob. 53ECh. 5.5 - Prob. 54ECh. 5.5 - Prob. 55ECh. 5.5 - Prob. 56ECh. 5.5 - Prob. 57ECh. 5.5 - Prob. 58ECh. 5.5 - Prob. 59ECh. 5.5 - Prob. 60ECh. 5.5 - Prob. 61ECh. 5.5 - Prob. 62ECh. 5.6 - Demand for Oranges The weekly sales of Honolulu...Ch. 5.6 - Prob. 2ECh. 5.6 - Prob. 3ECh. 5.6 - Prob. 4ECh. 5.6 - College Tuition An old study of about 1,800 U.S....Ch. 5.6 - Monorail Services The demand for monorail service...Ch. 5.6 - Tissues The consumer demand equation for tissues...Ch. 5.6 - Bodybuilding The consumer demand curve for...Ch. 5.6 - T-Shirts The Physics Club sells E=mc2 T-shirts at...Ch. 5.6 - Comics The demand curve for original Iguanawoman...Ch. 5.6 - E-Readers The demand for Amazons Kindle e-reader...Ch. 5.6 - Prob. 12ECh. 5.6 - Corn In the 1930s the economist Henry Schultz...Ch. 5.6 - Demand for Fried Chicken A fried chicken franchise...Ch. 5.6 - Paint-By-Number The estimated monthly sales of...Ch. 5.6 - Paint-By-Number Repeat Exercise 15 using the...Ch. 5.6 - Linear Demand Functions A general linear demand...Ch. 5.6 - Exponential Demand Functions A general exponential...Ch. 5.6 - Hyperbolic Demand Functions A general hyperbolic...Ch. 5.6 - Quadratic Demand Functions A general quadratic...Ch. 5.6 - Modeling Linear Demand You have been hired as a...Ch. 5.6 - Modeling Linear Demand You have been hired as a...Ch. 5.6 - Modeling Exponential Demand As the new owner of a...Ch. 5.6 - Prob. 24ECh. 5.6 - Prob. 25ECh. 5.6 - Prob. 26ECh. 5.6 - Income Elasticity of Demand: Broadband in 2010 The...Ch. 5.6 - Income Elasticity of Demand: Broadband in 2007 The...Ch. 5.6 - Prob. 29ECh. 5.6 - Prob. 30ECh. 5.6 - Prob. 31ECh. 5.6 - Price Elasticity of Supply Given a supply equation...Ch. 5.6 - Income Elasticity of Demand (based on a question...Ch. 5.6 - Prob. 34ECh. 5.6 - Complete the following: When demand is inelastic,...Ch. 5.6 - Prob. 36ECh. 5.6 - Prob. 37ECh. 5.6 - Given that the demand q is a differentiable...Ch. 5.6 - Prob. 39ECh. 5.6 - Prob. 40ECh. 5 - In Exercises 18, find all the relative and...Ch. 5 - Prob. 2RECh. 5 - Prob. 3RECh. 5 - Prob. 4RECh. 5 - Prob. 5RECh. 5 - Prob. 6RECh. 5 - Prob. 7RECh. 5 - Prob. 8RECh. 5 - Prob. 9RECh. 5 - Prob. 10RECh. 5 - Prob. 11RECh. 5 - Prob. 12RECh. 5 - Prob. 13RECh. 5 - Prob. 14RECh. 5 - Prob. 15RECh. 5 - Prob. 16RECh. 5 - Prob. 17RECh. 5 - Prob. 18RECh. 5 - Prob. 19RECh. 5 - Prob. 20RECh. 5 - Prob. 21RECh. 5 - Prob. 22RECh. 5 - Revenue Demand for the latest best-seller at...Ch. 5 - Revenue Demand for The Secret Loves of John O, a...Ch. 5 - Prob. 25RECh. 5 - Prob. 26RECh. 5 - Office Space Although still a sophomore at...Ch. 5 - Recreation Space As a result of complaints by the...Ch. 5 - Box Design The sales department at...Ch. 5 - Prob. 30RECh. 5 - Prob. 31RECh. 5 - Prob. 32RECh. 5 - Prob. 33RECh. 5 - Company Logos OHaganBooks.coms website has an ani-...Ch. 5 - Prob. 35RECh. 5 - Prob. 36RECh. 5 - Prob. 37RECh. 5 - Prob. 38RE
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