Suppose customers in a hardware store are willing to buy N(p) boxes of nails at

Question

Suppose customers in a hardware store are willing to buy N(p) boxes of nails at p dollars per box, as given by the following function. N(p) = 80-5p2; Find the average rate of change of demand for a change in price from $2 to $3. The average rate of change of demand for a change in price from $2 to $3 is -25 boxes per dollar. (Type an integer or a decimal.) Find the instantaneous rate of change of demand when the price is $2. The instantaneous rates of change of demand when the price is $2 is boxes per dollar. (Type an integer or a decimal.)

Explanation / Answer

b)dN(p)/dt = -10 p = -20box/dollar

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