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Mathematik-Online problems:

Problem 987: Derivative of Demand Function

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Suppose the demand set for tins of caviar is

$\displaystyle D=\left\{(q,p)\vert \; p^3q=8000\right\},$

where $ q$ is the number of tins (in thousands per week) and $ p$ is the price per tin (in dollars).
(a)
If $ p$ is increased from $$ 20$ to $$ 21$, what will be the expected fall in sales, approximately?
(b)
If, on the other hand, production were to be increased from $ 1000$ tins per week to $ 1100$, what would be the expected fall in price?
(Author: Rafee )

Solution:

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  automatisch erstellt am 9. 11. 2004