Explanation Given information: The function Q = f ( c , t ) gives the demand of the coffee Q sold per week in the terms of the price of the coffee c and tea t. Consider the function Q = f ( c , t ) . Since the function gives the demand of the coffee sold per week and c is the price of the coffee then a change in the price of the coffee will give affect the sales of the coffee. If the price of the coffee changes then it will decrease the demand of the coffee sold per week. In fact, the revenue will decrease To determine (b) Interpretation of the results f ( 3 , 2 ) = 780 , f c ( 3 , 2 ) = − 60 and f t ( 3 , 2 ) = 20 .

6th Edition

ISBN: 9781119399353

Author: DA

Publisher: JOHN WILEY+SONS,INC.-CONSIGNMENT

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Question

Chapter 8.3, Problem 11P

To determine

(a)

If fc and ft are positive or negative.

To determine

(b)

Interpretation of the results f(3,2)=780,fc(3,2)=−60 and ft(3,2)=20.

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Chapter 8.3, Problem 10P

Chapter 8.3, Problem 12P

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Chapter 8 Solutions

EBK APPLIED CALCULUS, ENHANCED ETEXT

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