Question: Demand for a certain kind of SUV obeys the following equation, D(x, y) = 25,000-x - 11(0.4y - 10) /2 where x is the

Demand for a certain kind of SUV obeys the following equation, D(x,  

Demand for a certain kind of SUV obeys the following equation, D(x, y) = 25,000-x - 11(0.4y - 10) /2 where x is the price per car in dollars, y is the cost of gasoline per litre, and D is the number of cars. Suppose that the price of the car and the price of gasoline t years from now obey the following equations: x = 54,200 + 100t, y = 132 +8t What will the rate of change of the demand be (with respect to time) 2 years from now?

Step by Step Solution

3.51 Rating (164 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

To determine the rate of change of demand Dx y with respect to time t two years from now well use th... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Law Questions!