Graph the polar equation r = 4 cos 3θ.
2 answers:
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Given
Answer
The demand equation is given
here Q is liters purchased per year, P is the price in dollars per unit and k is a parameter =0.75.
Explanationa. To determine the quantity of petrol demanded by the average motorist if the price is 1 dollar per liter.
b. To determine the change in quantity demanded.
It is given that the price of petrol increases from $1.0to $2.0 per litre on a sustained basis.
Then the equation becomes
The change in quantity demanded is
Substitute the values.
a.The quantity of petrol demanded by the average motorist if the price is 1 dollar per liter is 2000 litres per year.
b. The change in quantity demanded is the fall in demand due to negative sign which is 0.4054.