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The price p (dollars) of each unit of a particular commodity is estimated to be changing at the rate p(x) = 135x 16 x2 where
The price p (dollars) of each unit of a particular commodity is estimated to be changing at the rate p(x) = 135x 16 x2 where x (hundred) units is the consumer demand (the number of units purchased at that price). Suppose 300 units (x = 3) are demanded when the price is $30 per unit. i) Find the demand function p(x). Hint: Integrate p(x) using a u-substitution. ii) At what price will 400 units be demanded? At what price will no units be demanded
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