What events could shift the demand curve for corn to the left?

1 answer:

5 0

A tornado would destroy corn fields, along with infrastructure used to harvest and store it. Thus, at every given price the quantity of corn supplied would be lower and the supply curve shifts to the left.

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Part A:

Given that Box office revenue at a multiplex cinema in paris is $r(p) = 3600p - 6p^3$ euros per showing when the ticket price is p euros.

When p = 9,

$r(9) = 3600(9) - 6(9)^3 \\ \\ =32,400-6(729)=32,400-4,374 \\ \\ =\bold{28,026 \ euros}$

Part B:

The linear approximation of the change in a function Δf(x) using a value, a, close to x is given by:

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Given that $r(p) = 3600p - 6p^3$ , then $r'(p) = 3600 - 12p^2$

Using a = 9, we have:

$r'(9)=3600-12(9)^2 \\ \\ =3600-12(81)=3600-972 \\ \\ =2,628$

Thus, If p is raised by 0.5 euros, then

$\Delta R=(\Delta p)f'(9) \\ \\ =0.5(2,628)=\bold{1,314 \ euros}$

Part C:

The linear approximation of the change in a function Δf(x) using a value, a, close to x is given by:

$L(a+Δx)=(Δx)f'(a)$

Given that $r(p) = 3600p - 6p^3$ , then $r'(p) = 3600 - 12p^2$

Using a = 9, we have:

$r'(9)=3600-12(9)^2 \\ \\ =3600-12(81)=3600-972 \\ \\ =2,628$

Thus, If p is lowered by 0.5 euros, then

$\Delta R=(\Delta p)f'(9) \\ \\ =-0.5(2,628)=\bold{-1,314 \ euros}$

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