A model that describes the relationship between the price and the weekly sales of a product might

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A model that describes the relationship between the price and the weekly sales of a product might have a form such as

where y is the volume of sales and p is the price per unit. That is, at any time, the rate of decrease of sales with respect to price is directly proportional to the sales level and inversely proportional to the sales price plus a constant. Solve this differential equation. (Figure 6 shows several typical solutions.)

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Calculus And Its Applications

ISBN: 9780134437774

14th Edition

Authors: Larry Goldstein, David Lay, David Schneider, Nakhle Asmar

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