A bicycle dealer has found that if 10-speed bicycles are sold for x dollars each and the

Question:

A bicycle dealer has found that if 10-speed bicycles are sold for x dollars each and the price of gasoline is y cents per gallon, approximately F(x, y) bicycles will be sold each month, where


image


Currently, the bicycles sell for $324 apiece and gasoline sells for $3.80 per gallon. Use marginal analysis to estimate the change in the demand for bicycles that results when the price of bicycles is kept fixed but the price of gasoline decreases by 1 cent per gallon.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Calculus For Business, Economics And The Social And Life Sciences

ISBN: 9780073532387

11th Brief Edition

Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price

Question Posted: