# Product Demand

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Please solve the problems:

1. If p is price in dollars and q is quantity, demand for a product is given by q = 5000e^0.08p

a. What quantity is sold at a price of $10?

b. Find the derivative of demand with respect to price when the price is $10 and interpret your answer in terms of demand.

2. The demand for a product is given above. Find the revenue and the derivative of revenue with respect to price at a price of $10.

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Product Demand is assessed.

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Please see the attached solution.

1. If p is price in dollars and q is quantity, demand for a product is given by q = 5000e^0.08p

a. What quantity is sold at a price of $10?

To find the quantity sold when the price we find

units sold (I have rounded down to nearest whole number as the exact solution comes out as a decimal and it does not make sense to sell a fraction of an item)

b. Find the ...

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