Math Problem Statement
Use the demand function to find the rate of change in the demand x for the given price p. (Round your answer to two decimal places.)
x = 200 - p - (4p / (p + 3)), p = 5
Solution
We are given a demand function and the price . The goal is to find the rate of change of the demand with respect to the price , which means finding , and then evaluate it at .
Steps:
- Differentiate the function with respect to .
- Plug in the value .
- Round the answer to two decimal places.
Let me calculate this.The rate of change of the demand with respect to the price at is approximately units per dollar.
Would you like any further details or have any questions?
Here are 5 related questions you might find interesting:
- How does the rate of change vary for different prices?
- What is the significance of a negative rate of change in demand?
- Can the demand function have a positive rate of change for some values of ?
- How would the demand change if ?
- What happens to the rate of change as ?
Tip: When differentiating a function, remember that terms like require the use of the quotient rule.
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Math Problem Analysis
Mathematical Concepts
Calculus
Differentiation
Rate of Change
Formulas
Derivative of a function
Quotient rule for differentiation
Theorems
Quotient Rule
Basic Differentiation Rules
Suitable Grade Level
Grades 11-12