Explore BrainMass
Share

Explore BrainMass

    Mathematics - Functions and Graphs

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    The demand for a certain commodity is given by

    D(x) = -50x + 800; that is, x units of the commodity will be demanded by consumers when the price is p = D(x) dollars per unit. Total consumer expenditure E(x) is the amount of money consumers pay to buy x units of the commodity.

    a) Express consumer expenditure as a function of x, and sketch the graph E(x).

    b) Use the graph in part (a) to determine the level of production x at which consumer expenditure is largest. What price p correspnds to maximum consumer expenditure?

    © BrainMass Inc. brainmass.com October 9, 2019, 10:31 pm ad1c9bdddf
    https://brainmass.com/math/consumer-mathematics/mathematics-functions-graphs-222630

    Solution Preview

    The demand for a certain commodity is given by

    D(x) = -50x + 800; that is, x units of the commodity will be demanded by consumers when the price is p = D(x) dollars per unit. Total consumer expenditure E(x) is the amount ...

    Solution Summary

    The expert examines the functions and graphs for the demand for a certain commodity. A graph of the function is provided. The consumer expenditure as a function is expressed. A complete, neat and step-by-step solution is provided in the attached file.

    $2.19