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Question 1 (10 points) If a publisher were to give away specimens of its latest best-seller, the demand would be 100,000 books. The marginal
Question 1 (10 points) If a publisher were to give away specimens of its latest best-seller, the demand would be 100,000 books. The marginal demand dq dp for the book is -20p at a price of p dollars. a) Determine the demand function for this book. (7 points) b) Determine the price at which the demand drops to zero. (3 points) Question 2 (10 points) The legal team retained to handle the numerous lawsuits brought against a company by its disgruntled clients may have to be expanded. The marginal monthly cost to maintain a team of lawyers is estimated by the following function: C'(x)=(x-2) [8-(x-2)] thousand dollars per additional lawyer; Determine, to the nearest thousand, the total monthly cost if the team were to increase from two to four retained lawyers. Question 3 (15 points) A consultant estimates that the total weekly computer usage by the company employees to be: w(t)=620+900- 0t20 t 3+e4 where t is time in weeks since January 1 of this year. Determine the total computer usage during the first 14 weeks of the year.
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