The function Q-F(p.py) describes how the monthly demand, Q (measured in 100s of Widgets), for Grinch Inc. Widgets depends on the variables: • P = the price/Widget that Grinch Inc. sets (measured in $).
• ps = average price of substitutes for Grinch Inc. Widgets (measured in $)
• y average disposable income in the market for Widgets (measured in $1000s). When average disposable income in the market is $3500 and Grinch Inc.s price is $11 and the average price of substitutes is $12... • Q=75 • Qp = - 0.43 • Qps = 0.64
• Qy = 0.77 If average monthly income increases to $3600 and the average price of substitutes increases to $12.25, by approximately how much can Grinch Inc. increase their price while keeping demand for their Widgets fixed at Q = 75?
a. ∆p = 0.55 b. ∆p = 0.31
c. ∆p = 0.67 d. There is no way to estimate this from the given information. The average value of the function g(x) = 2 / √x²+9 on the interval [0,20] is..
a. ...= -0.05 ln(17+2√409) b. ...= 0.1 In (60+3√409) c. ... = 0.01 ln(20+√409 / 3)
d. ... = 2ln(20+√409 / 3)