Objective 2.11 and 2.13
A product is introduced to the market. The weekly profit in thousands of dollars of that product decays exponentially as function of the price that is charged (in dollars) and is given by
And suppose the price in dollars of that product, , is a function of time in weeks and is given by
Find the marginal(ROC of) profit as a function of time,
hint: chain rule,
What is the the marginal (Rate of Change of) profit with respect to time 7 weeks after the introduction. hint: it is possible to do this in your calculator without the previous answer
Interpret your answer
This is an ungraded response. Look at the answer to see if you were close.
A product is introduced to the market. The weekly profit in thousands of dollars of that product decays exponentially as function of the price that is charged (in dollars) and is given by
And suppose the price in dollars of that product, , is a function of time in weeks and is given by
Find the marginal(ROC of) profit as a function of time,
hint: chain rule,
What is the the marginal (Rate of Change of) profit with respect to time 7 weeks after the introduction. hint: it is possible to do this in your calculator without the previous answer
Interpret your answer
This is an ungraded response. Look at the answer to see if you were close.