Mathematics - Functions and Graphs
Not what you're looking for?
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?
Purchase this Solution
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.
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 ...
Purchase this Solution
Free BrainMass Quizzes
Know Your Linear Equations
Each question is a choice-summary multiple choice question that will present you with a linear equation and then make 4 statements about that equation. You must determine which of the 4 statements are true (if any) in regards to the equation.
Geometry - Real Life Application Problems
Understanding of how geometry applies to in real-world contexts
Solving quadratic inequalities
This quiz test you on how well you are familiar with solving quadratic inequalities.
Exponential Expressions
In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.
Multiplying Complex Numbers
This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.