The Demand Function for a Product Is Given by

question 110

Multiple Choice

The demand function for a product is given by , where p is the price per unit in dollars when x units are demanded. Find the second derivative to see whether the rate at which the price is changing at 30 units is increasing or decreasing. ​

• A)increasing
• B)decreasing

---

Definitions:

Economy's Resources

The total means available for a country or region to produce valuable goods and services, including labor, capital, and natural resources.

Efficiently Produce

The ability of an entity or economy to maximize output with the given set of resources and technology, minimizing waste and costs.

Production Possibilities Frontier

A curve depicting all maximum output possibilities for two or more goods, given a set of inputs.

Maximum Possible Output

The highest quantity of goods and services an economy can produce when it is utilizing all of its resources efficiently.