Question

The demand function for a certain commodity is given by p = 100e−q/2. (p is the price per unit and q is the number of units.)

(a) At what price per unit will the quantity demanded equal 8 units? (Round your answer to the nearest cent.)$

Answer 1

The price per unit at which the quantity demanded equals 8 units is approximately $54.57.

Step-by-step explanation:

To find the price per unit at which the quantity demanded equals 8 units, we can substitute Qd = 8 into the demand function p = 100e^(-q/2):

p = 100e^(-8/2)

p = 100e^(-4)

p ≈ 54.57

So, the price per unit will be approximately $54.57.