When the price of an essential commodity (such as gasoline) rises rapidly, consumption drops slowly at first. If the price continues to rise, however, a “tipping” point may be reached, at which consumption takes a sudden substantial drop. Suppose the accompanying graph shows the consumption of gasoline, G1t2, in millions of gallons, in a certain area. We assume that the price is rising rapidly. Here t is time in months after the price began rising. Use the graph to find the following.

(a)

(b)

(c) G(16) 

(d) The tipping point (in months)

Transcribed Image Text:

G(t) 4+ 3.5 3+ 2.5 2+ 1.5 1 0.5 0 4 (12,3) (16, 2) (16, 1.5) o 8 12 16 20 24