Question 280803: The demand equation for a certain product is given by p= 500-0.5e^0.004x. Find the price p for a demand of x=1000 Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! The demand equation for a certain product is given by
p= 500-0.5e^0.004x.
Find the price p for a demand of x=1000
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p(1000) == 500 - 0.5*e^(0.004*1000)
p(1000) = 500 - 0.5e^4
p(1000) = 500 - 27.30
p(1000) = $472.70
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Cheers,
Stan H.
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