Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Demand Function for Sports Watches The demand function for the Sicard sports watch is given by 60 d(x) = (0 5 x 5 20) 0.01x2

image text in transcribed
image text in transcribed
Demand Function for Sports Watches The demand function for the Sicard sports watch is given by 60 d(x) = (0 5 x 5 20) 0.01x2 + 1 where x (measured in units of a thousand) is the quantity demanded per week and d(x) is the unit price in dollars. (a) Find d'(x). d'(x) = (b) Find the following values in dollars per thousand watches. (Round your answers to two decimal places.) d'(5) = $ per thousand watches d'(10) = $ per thousand watches d'(19) = $ per thousand watches Interpret the results. (Round your answers to two decimal places.) When the demand for watches is 5,000, the unit price for the watches is decreasing by $ per thousand watches. When the demand for watches is 10,000, the unit price for the watches is decreasing by $ per thousand watches. When the demand for watches is 19,000, the unit price for the watches is decreasing by $ per thousand watches

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Computational Invariant Theory

Authors: Harm Derksen, Gregor Kemper

2nd Edition

3662484226, 9783662484227

More Books

Students also viewed these Mathematics questions