Q2 Functions: Business Application

10 Points

Test market data shows that changing the price of a product changes the demand (the number of units that people are willing to purchase). For a certain product, the test market data indicated the following:

Q2.1 Part a)

4 Points

Let D(p)D(p) represent the demand, in units, as a function of price, pp, in dollars. Based on this table, what is D(30)D(30)? Provide an interpretation of this based on the context of the problem (Hint: We are asking "What does D(30)D(30) mean in context of the problem. Use complete sentences).

D(30)=D(30)= ____

Interpretation (Use complete sentence(s)):

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Q2.2 Part b)

2 Points

What is the domain and range of the function described in question 2.1 (part a)? Use proper interval notation.

Domain:____

Range:____

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Q2.3 Part c)

3 Points

Draw a graph of the function based on the table values provided. Label each point and connect the data points with a line segment. (Upload a pdf scan of your work. Label all axes and don't forget the units).

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Q2.4 Part d)

1 Point

Describes what happens to the demand as the price decreases. Provide your answer in one complete sentence.