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A price pp (in dollars) and demand xx for a product are related by 2x2+8xp+50p2=7400 If...

A price pp (in dollars) and demand xx for a product are related by

2x2+8xp+50p2=7400

If the price is increasing at a rate of 2 dollars per month when the price is 10 dollars, find the rate of change of the demand.

Rate of change of demand =

Solutions

Expert Solution

---------(1)

Price p=10

Differentiating equation with respect to x

(x=20 ; p=10 dollars; dp/dt= 2 dollars/month)

Rate of change of the demand -14.5

milcah answered 2 years ago

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