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 x=200p4pp+3x = 200 - p - \frac{4p}{p + 3} and the price p=5p = 5. The goal is to find the rate of change of the demand xx with respect to the price pp, which means finding dxdp\frac{dx}{dp}, and then evaluate it at p=5p = 5.

Steps:

  1. Differentiate the function x(p)x(p) with respect to pp.
  2. Plug in the value p=5p = 5.
  3. Round the answer to two decimal places.

Let me calculate this.The rate of change of the demand xx with respect to the price pp at p=5p = 5 is approximately 1.19-1.19 units per dollar.

Would you like any further details or have any questions?

Here are 5 related questions you might find interesting:

  1. How does the rate of change vary for different prices?
  2. What is the significance of a negative rate of change in demand?
  3. Can the demand function have a positive rate of change for some values of pp?
  4. How would the demand change if p=10p = 10?
  5. What happens to the rate of change as pp \to \infty?

Tip: When differentiating a function, remember that terms like 4pp+3\frac{4p}{p + 3} 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