The demand function for a certain commodity is approximated by: p = 100e-q/2where "q" is the number of units demanded at a price of "p" dollars per unit. If there is no demand for the product, what will its price be(in dollars)?
if q is the number of units demanded, and there is no demand ----> q = 0
so p = 100 e^0 = 100(1) = 100
The supply of a certain item is y = 3x + 8, where "x" is the number of days elapsed. If the demand is
given by y = 4x, in how many days will the supply equal the demand?
The supply of a certain item is y = 3x + 8, where "x" is the number of days elapsed. If the demand is
given by y = 4x, in how many days will the supply equal the demand?
To find the price of the commodity when there is no demand, we need to set the demand function equal to zero and solve for the price (p).
The demand function is given as:
p = 100e^(-q/2)
When there is no demand for the product, the quantity demanded (q) will be zero. Substituting q = 0 into the demand function, we get:
p = 100e^(-0/2)
p = 100e^0
p = 100 * 1
p = 100
Therefore, when there is no demand for the product, the price will be $100.