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1 answer:
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Answer:
-0.625 unit
Step-by-step explanation:
Given that:
where;
p = price
q = quantity
To find the rate of change of quantity (q) with respect to price (p) we go by the differentiation
when P =40
Then 4(q+3)² = 100, 000
(q+3)² =
(q+3)² = 25,000
(q+3) =
q+ 3 = 50
q = 50 -3
q = 47
NOW;
Thus, the rate of change of quantity with respect to price when p = $40 is -0.625 unit.