Answer:
Step-by-step explanation:
Given the approximate demand function of night drink expressed as;
p^2+200q^2=177,
p is the price (in dollars) and;
q is the quantity demanded (in thousands).
Given
p = $7
q = 800
Required
dq/dp
Differentiating the function implicitly with respect to p shown;
2p + 400d dq/dp = 0
400q dq/dp = -2p
200qdq/dp = -p
dq/dp = -p/100q
substitute p and q into the resulting equation;
dq/dp = -7/100(800)
dq/dp = -7/80000
dq/dp = -0.0000875
This means that the rate of change of quantity demanded with respect to the price is -0.0000875
