Mr. Adeb takes out an $8,000 personal loan to restore his antique car. The bank loans him the money at 4.5% simple interest for
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Answer:
The demand will drop approximately 23 T-shirt per month.
Step-by-step explanation:
Consider the provided formula.
You currently sell T-shirts for $15 each and you raise your price by $2 per month,
That means p=$15 and
We need to find how fast demand will drop.
So differentiate the above function with respect to time.
Substitute the respective values as shown:
Hence, the demand will drop approximately 23 T-shirt per month.
Attached a solution and showed work.
