Assume That the Rate of Change of the Unit Price

question 42

Short Answer

Assume that the rate of change of the unit price of a commodity is proportional to the difference between the demand and the supply so that ​ where k is a constant of proportionality. Suppose that D=74-5p, S=2+3p, and p(0)=2. Find a formula for p(t).

Understand the concept of schemas and their role in organizing knowledge from experience.

Grasp the basic principles of classical conditioning and the stimuli that incite actions.

Understand the implications of selective perception based on needs, values, or attitudes.

Understand the process and significance of controlling behavior through manipulation of its consequences.

---

Definitions:

Respondeat Superior

A rule of law which makes an employer or principal accountable for an employee's or agent's wrongful actions, provided those actions were performed during the course of their employment or agency.

Delegatee

A person or party to whom duties or powers are delegated by another, often in a legal or organizational context.

Mortgages

Loans secured by real property, typically real estate, that borrowers use to purchase property or borrow against the value of property they already own.

Leases

Legal agreements that grant the right to use or occupy property for a specified period of time in exchange for rent.