The sales of a product, S = f(p, a), are a function of the price, p, of
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The sales of a product, S = f(p, a), are a function of the price, p, of the product (in dollars per unit) and the amount, a, spent on advertising (in thousands of dollars).
(a) Do you expect fp to be positive or negative? Why?
(b) Explain the meaning of the statement fa(8, 12) = 150 in terms of sales.
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Related Book For
Applied Calculus
ISBN: 9781119275565
6th Edition
Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale
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