Answered step by step
Verified Expert Solution
Question
1 Approved Answer
(b) Maxxis industries specialized in selling car tyres, have a demand of 650 tyres per week. They sell these at Ksh 30,000 per tyre. The
(b) Maxxis industries specialized in selling car tyres, have a demand of 650 tyres per week. They sell these at Ksh 30,000 per tyre. The marginal price demand function, p'(x), for x number of tyres per week, is given as p'(x) = -0.015e-0.01x (ii) Find the price-demand equation. (3 Marks) If the industry sells 1000 tyres per week, what price should it set
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started