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According to economic? theory, the demand x for a quantity in a free market decreases as the price p increases? (see the? figure). Suppose that the number x of DVD players people are willing to buy per week from a retail chain at a price of? $p is given by
x=(4000/0.2p+1), 10<=p<=70
(A) Find dx/dp
b.) Find the demand and the instantaneous rate of change of demand with respect to price when the price is ?$20. Write a brief interpretation of these results.
At 20$ the demand is ?
C.) Use the results from part ?(B) to estimate the demand if the price is increased to ?$21
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