A car dealership estimates that the total weekly sales of its most popular model is a function
Question:
A car dealership estimates that the total weekly sales of its most popular model is a function of the car’s list price, p, and the interest rate in percent, i, offered by the manufacturer. The approximate weekly sales are given by f(p, i) = 99p – 0.5pi – 0.0025p2
a. Find the weekly sales if the average list price is $19,400 and the manufacturer is offering an 8% interest rate.
b. Find and interpret fp(p, i) and fi(p, i)
c. What would be the effect on weekly sales if the price is $19,400 and interest rates rise from 8% to 9%?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Calculus With Applications
ISBN: 9780321831101
10th Edition
Authors: Margaret L Lial, Raymond N Greenwell, Nathan P Ritchey
Question Posted: