The Price of a Certain Commodity in Dollars Per Unit

question 26

Essay

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 t = 0?
$__________ / unit
How fast is the price of the commodity decreasing at t = 0?
$__________ / wk
Find the equilibrium price of the commodity. (Hint: It's given by . Also, use the fact that .)
$__________ / unit

---

Definitions:

Organizer

A person who brings order, manages tasks, or arranges events and responsible for planning and execution.

Goal

An aim or desired outcome that a person or a system envisions, plans, and commits to achieve within a specified timeframe.

Energizer

Substances or activities that increase energy levels, focus, or alertness, often used to overcome fatigue or enhance performance.

Decision

The process of making a choice or finding a solution among several alternatives, often following careful thought and consideration.