Last week a series of wildfires spread through northern California, killing dozens of people and displacing
hundreds of homeowners. Although not directly affected, Bay Area residents to the south have been exposed to record levels of air pollution as a result.
Fortunately, a new startup has just developed a mask that fully protects wearers from the effects of this pollution. As this is it's core business, the firm has already conducted extensive market research on how much consumers are willing to pay for this product. These marketing studies have concluded that the probability a given consumer will purchase a mask is
q = 1 − p/10
Where q is the probability (0 ≤ q ≤ 1) someone is willing to pay at least p dollars for a mask. [So
this function says that the median household (q=.5) is willing to pay $5].
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