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March 31, 2015

March 31, 2015

Posted by **Jules** on Friday, April 29, 2011 at 4:05pm.

The marginal price dp/dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $100 per unit [p(0)=100], and there is a weekly demand of 8 units at the price of $60.83 per unit [p(8)=60.83].

A)find the price demand equation. Give an exact answer in simplified form. Round all decimal values to the nearest hundreth.

B)At a demand of 25 units per week, what is the price? Round to the nearest cent.

- Math -
**Damon**, Friday, April 29, 2011 at 5:39pmdp/dx = k p

dp/p = k dx

ln p = kx + C

p = e^(kx+C) = c e^kx

p(0)= + 100

so

100 = c e^0 = c

so

p = 100 e^kx

p(8) = 60.83

60.83 = 100 e^(k*8)

ln(.6083) = 8 k

k = -.06214

so

p = 100 e^(-.06214 x)

if x = 25

p = 100 e^-(.0214*25)

p = 100 * .5857

p = $58.57

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