Question
The demand function for the Luminar desk lamp is given by
p = f(x) = −0.1x^2 − 0.7x + 20
where x is the quantity demanded in thousands and p is the unit price in dollars.
(a) Find f '(x).
(b) What is the rate of change of the unit price (in dollars per 1,000 lamps) when the quantity demanded is 3,000 units (x = 3)?
p = f(x) = −0.1x^2 − 0.7x + 20
where x is the quantity demanded in thousands and p is the unit price in dollars.
(a) Find f '(x).
(b) What is the rate of change of the unit price (in dollars per 1,000 lamps) when the quantity demanded is 3,000 units (x = 3)?
Answers
(a) differentiating ... f'(x) = -0.2 x - 0.7
(b) to find dp/dx , plug x=3 into f'(x)
(b) to find dp/dx , plug x=3 into f'(x)
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