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Math

posted by on .

Could someone answer this question so I understand it. Thanks

Given the supply function:

p = S(x) = 5(e^0.02x-1)

Find the average price (in dollars) over the interval [31,36].

Only the 0.02 is ^ in the e in the question.

  • economics - ,

    Is this math, or Economics?


    Normally, Supply is related to price, so your x would be price.

    Normally, to find the average, you find the area under a curve, and divide by the range.

    averageprice= 1/range *INT S(x) dx over range
    = 1/5 * INT 5(e^.02x-1)
    AT this point, I wonder about your statement that x is not in the exponent, I am figuring you are mistaken in that.
    = INT (e.02x dx-INT dx
    = 1/.02 e^.02x -x
    now ovcr the range
    50 e.72-50e.62-5
    = 50(e1.16 -5
    =154.7

    double check all that

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