2
x=187,50025 p
dx
=25 (2 p )=50 p
dp
p
dx
x
p
=
=
(50 p )
2
dp
187,50025 p
=
50 p 2
187,50025 p2
a)
For unit elasticity of demand,
1=
50 p 2
187,50025 p 2
2
187,500+25 p =50 p
2
25 p 2+50 p2=187,500
2
75 p =187,500
p2=2,500
p= 2,500=$ 50
Hence, it is pro
We are given that
x=187,50025 p
2
Differentiating wrt, p we get
dx
=25 (2 p )=50 p
dp
Using definition of price elasticity of demand,
p
dx
x
p
=
=
(50 p )
2
dp
187,50025 p
=
50 p 2
187,50025 p2
a)
For unit elasticity of demand,
1=
50 p 2
187,50025 p 2
2
1
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a co
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra Credit
opportunities. Solving any of these problems is not required. Credit for a correct solution
applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional
Extra Credit opportunities. Solving any of these problems is not required. Credit
for a correct solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
PART I
As manager of a particular product line, you have data available for the past
11 sales periods. This data associates your product lines units sold x and
total PROFIT P results for t
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a
correct solution applies o
Your Divisions Chief Data Analyst just left for a new career growth opportunity. Your
Division manager, realizing that some of the Divisions Educational & Training funds are
being used to reimburse you for this current mathematical applications class, ask
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional
Extra
Credit opportunities. Solving any of these problems is not required. Credit for a
co
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra Credit
opportunities. Solving any of these problems is not required. Credit for a correct solution
applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a correct
solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a
correct solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a co
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a co
Your Divisions Chief Data Analyst just left for a new career growth opportunity. Your
Division manager, realizing that some of the Divisions Educational & Training funds are
being used to reimburse you for this current mathematical applications class, ask
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional
Extra Credit opportunities. Solving any of these problems is not required. Credit
for a correct solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional
Extra Credit opportunities. Solving any of these problems is not required. Credit
for a correct solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a
correct
solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a
correct
solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional
Extra Credit opportunities. Solving any of these problems is not required. Credit
for a correct solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a
co
Your Divisions Chief Data Analyst just left for a new career growth opportunity. Your
Division manager, realizing that some of the Divisions Educational & Training funds are
being used to reimburse you for this current mathematical applications class, ask
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a co
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a co
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a
co
X 410 Business Applications of Calculus
PROBLEM SET 2
A Problem Set in 5 Parts [94 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a co
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a correct
solution applies o
X 410 Business Applications of Calculus
PROBLEM SET 1 [100 points]
[Extra Credit Note: Several parts of this Problem Set PS provide optional Extra
Credit opportunities. Solving any of these problems is not required. Credit for a correct
solution applies o
Your Divisions Chief Data Analyst just left for a new career growth opportunity. Your
Division manager, realizing that some of the Divisions Educational & Training funds are
being used to reimburse you for this current mathematical applications class, ask