Calculus with Applications (10th Edition)

Published by Pearson
ISBN 10: 0321749006
ISBN 13: 978-0-32174-900-0

Chapter 1 - Linear Functions - 1.2 Linear Functions and Applications - 1.2 Exercises - Page 24: 32

Answer

$D(q)=-0.35q+9$

Work Step by Step

The function is $p=S(q)=0.25q+3.6$ with $D(4)=7.6$ which is also $(q_2,p_2)=(4,7.6)$ To find the quantity demanded at a price of $\$5.85$ per watermelon, replace p in the demand function with $5.85$ and solve for q. $5.85=0.25q+3.6$ $0.25q=2.25$ $q=9$ To find m we use the formula: $m=\frac{p_2-p_1}{q_2-q_1}=\frac{7.6-5.85}{4-9}=-\frac{7}{20}=-0.35$ Assume that the demand function is linear, we have $p-p_1=m(q-q_1)$ $D(q)-5.85=-0.35(q-q_1)$ $D(q)-5.85=-0.35q+3.15$ $D(q)=-0.35q+9$
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