The Monthly Demand for a Certain Brand of Perfume Is

question 192

Short Answer

The monthly demand for a certain brand of perfume is given by the demand equation where p denotes the retail unit price (in dollars) and x denotes the quantity (in 1-oz bottles) demanded.
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Find the rate of change of the price to the nearest hundredth of a cent per bottle when x = 2,000.
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__________ cents per bottle
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What is the price per bottle when x = 2,000.
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$__________ / bottle

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Definitions:

Output

The amount of something produced by a person, machine, or industry.

Unemployment

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Sacrifice Ratio

An economic term that quantifies the effect of decreasing inflation on an economy, typically measured as the percentage loss in output per one percentage point decrease in inflation.

Housing and Financial Crisis

A period characterized by declining home prices, foreclosures, and a loss of value in financial instruments, leading to widespread economic instability.