The Price of a Certain Commodity in Dollars Per Unit

question 70

Short Answer

The price of a certain commodity in dollars per unit at time t (measured in weeks) is given by
​ .
​
What is the price of the commodity at ?
​
$__________/unit
​
How fast is the price of the commodity changing at ?
​
__________ (increasing / decreasing) at the rate of $__________/wk
​
Find the equilibrium price of the commodity.

---

Definitions:

Template

A preset model or pattern that serves as a guide for the creation or replication of objects, documents, or designs.

Concepts

General ideas or understandings that are used to group together objects, events, qualities, or abstractions that are similar in some way.

Classes

Groups or categories into which objects or concepts are divided based on shared characteristics or criteria.

Attributes

Characteristics or qualities that are inherent in or ascribed to someone or something.