Setting u(p) = 6p and v(p)=7p+4, we have x=325(1-u/v). So,
dx/dp = -325 (uv'-u'v)/v^2
= -325(6p(7)-6(7p+4)/(7p+4)^2
= -325(42p-42p-24)/(7p+4)^2
= 325*24/(7p+4)^2
x'(5) = 32*24/39^2 = 5.13
Use the demand function
X=325(1-(6p/7p+4)) to find the rate of change in the demand x for the given price p=$5.00. Round your answer to two decimal places.
A. 5.13 UNITS PER DOLLAR
B. -0.85 UNITS PER DOLLAR
C. 0.85 UNITS PER DOLLAR
D. 1.35 UNITS PER DOLLAR
E. -5.13 UNITS PER DOLLAR
1 answer
1 answer