Question: When a certain commodity is sold for p dollars per unit, consumers will buy D(p) = 40,000 p units per month. It is estimated that

When a certain commodity is sold for p dollars per unit, consumers will buy D(p) = 40,000 p units per month. It is estimated that t months from now, the price of the commodity will be p(t) = 0.4t 3/2+6.8 dollars per unit. At what percentage rate will the monthly demand for the commodity be changing with respect to time 4 months from now?

Step by Step Solution

★★★★★

3.52 Rating (162 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock 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 Accounting Questions!

With respect to time value, it is often said that the last payment (say, 20 years in the future) doesnt cost as much as the next payment today. Explain.

A certain commodity is known to have a price that is stable through time and does not change according to any known trend. Price, however, does change from day to day in a random fashion. If the...

(a) Take first and second derivatives with respect to time of q given in Eq. (30.28), and show that it is a solution of Eq (30.27). (b) At t = 0 the switch shown in Fig. 30.17 is thrown so that it...

Kurts Hardware Store advertises and sells snow blowers each season. The following table provides the annual demand, level of advertising, in dollars, and snowfall, in inches, for the past eight...

An experiment was conducted to compare three types of coating materials for copper wire. The purpose of the coating is to eliminate "flaws" in the wire. Ten different specimens of length five...

A college states that the mean number of kilometres per day that students travel for classes is 4.0. A study is done each year to verify the statement. The study for 2018 was done in the fall...

What are the output files produced when this script runs? Where are they stored? Refer to the PERL script shown in Figures 8.3 and 8.4. C:\Users ex h\Documents\Book SQLServerLogCheck.prl - Notepad++...

In 2021, Gail changed from the lower of cost or market FIFO method to the LIFO inventory method. The ending inventory for 2020 was: Item C was damaged goods, and the replacement cost used was...

In 2022, Gail changed from the lower of cost or market FIFO method to the LIFO inventory method. The ending inventory for 2021 was: Item C was damaged goods, and the replacement cost used was...

Use the following information to answer question. A company puts vending machines in different locations. The numbers of sodas sold (in thousands) in the last 3 months are presented in the following...

ECB mode requires an initialization vector that must be unique to each execution of the encryption operation. true or false

1. Use the experimental data below to produce a graph that effectively conveys the information. 2. Answer the questions below. Number of kinds of colonies Number of kinds of colonies Test subject...

Amesbury Construction assembles residential houses. It uses a job-costing system with two direct-cost categories (direct materials and direct labor) and one indirect-cost pool (assembly support)....

as a consultant to help one of the companies below uncover bottlenecks and issues with their operations. tell me about the company history, current operation management system, challenges, and what...

BurgerFun Inc. is a fast food restaurant that serves 6 items. Burgers Soda Fries Onion Rings Coffee Ice Cream Sales per month 1500 $ Total Direct Materials 289.00 Total Direct Labor KW per item $...

completed using the amortization keys on your calculator BA II Plus Texas Instruments. Make sure to show the value of the P1/P2 keys as part of your work. 1. You have just purchased a new house and...

Please attach the program file

On March 31, 2018, Gardner Corporation received authorization to issue $30,000 of 9 percent, 30-year bonds payable. The bonds pay interest on March 31 and September 30. The entire issue was dated...

Based on the following information for a bond: Par value: $1,000 Time left 0:41:17 Hide of Years to maturity: 15 years Coupon rate: 8% paid semiannually Interest rate: 15% What is the expected price...

A firm cannot break even by charging uniform (nondiscriminatory) prices, but with price discrimination it can earn a small profit. Explain why in this case consumers must be better off if the firm is...

From the data in Test Yourself Questions 1 and 2, calculate TC and AC for each of the output levels from one to six units and draw the two graphs.

In recent decades, college tuition costs have risen more rapidly than the general price level, even though the wages of college professors have failed to keep pace with the price level. Can you...

XtraNet, an Internet service provider (ISP), has experienced rapid growth in the past five years. As a part of its marketing strategy, XtraNet promises fast connections and dependable service. To...

Assuming the population of interest is approximately normally distributed, construct a 95% confidence interval estimate for the population mean given the following values:

A regional U.S. commercial bank issues both Visa credit cards and MasterCard credit cards. As a part of its annual review of the profitability of each type of credit card, the bank randomly samples...