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The amount spent by a consumer on nondurable goods can be modeled as n ( x ) = - 1 . 1 + 1 .
The amount spent by a consumer on nondurable goods can be modeled as
thousand dollars
and the amount spent on motor vehicles can be modeled as
hundred dollars
where thousand dollars is the amount spent by that same consumer for all personal consumption. Note: Use the concept of inverse functions or models.
where is the amount spent on motor vehicles. Round all numerical values to three decimal places.
thousand dollars
thousand dollars
c How much is spent on nondurable goods by somebody who spends $ on his or her motor vehicle? Round your answer to three decimal places.
$
thousand
At what rate is this amount changing with respect to motor vehicle spending? Round your answer to three decimal places.
$
thousand per hundred dollars
Write a sentence of interpretation for the results.
A consumer who spends $ on his or her motor velles w $
thousand on nondurable goods. At the $ level of spending on motor vehicles, the amount spent on nondurable goods is increasing
by $
thousand per hundred dollars increase in spending on motor vehicles.
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