The problem gives the demand function $p = 100e^{-q/2}$, where $p$ is the price per unit and $q$ is the number of units. (a) We need to find the price $p$ when the quantity demanded $q = 6$ units. The answer should be rounded to the nearest cent. (b) We need to find the quantity demanded $q$ when the price $p = \$2.01$ per unit. The answer should be rounded to the nearest unit.

Applied MathematicsExponential FunctionsDemand FunctionLogarithmsApproximation
2025/3/8

1. Problem Description

The problem gives the demand function p=100eq/2p = 100e^{-q/2}, where pp is the price per unit and qq is the number of units.
(a) We need to find the price pp when the quantity demanded q=6q = 6 units. The answer should be rounded to the nearest cent.
(b) We need to find the quantity demanded qq when the price p = \2.01$ per unit. The answer should be rounded to the nearest unit.

2. Solution Steps

(a)
We are given q=6q = 6. Substituting this into the demand function p=100eq/2p = 100e^{-q/2}, we have
p=100e6/2=100e3p = 100e^{-6/2} = 100e^{-3}.
p100(0.049787)4.9787p \approx 100(0.049787) \approx 4.9787.
Rounding to the nearest cent, we get p=4.98p = 4.98.
(b)
We are given p=2.01p = 2.01. Substituting this into the demand function p=100eq/2p = 100e^{-q/2}, we have
2.01=100eq/22.01 = 100e^{-q/2}.
Divide both sides by 100:
0.0201=eq/20.0201 = e^{-q/2}.
Take the natural logarithm of both sides:
ln(0.0201)=ln(eq/2)\ln(0.0201) = \ln(e^{-q/2})
ln(0.0201)=q/2\ln(0.0201) = -q/2
q=2ln(0.0201)q = -2\ln(0.0201)
q2(3.9084)7.8168q \approx -2(-3.9084) \approx 7.8168.
Rounding to the nearest unit, we get q=8q = 8.

3. Final Answer

(a)
4.984.98
(b)
88

Related problems in "Applied Mathematics"

A cylindrical container with small holes drilled vertically is filled with water, as shown in the fi...

Fluid DynamicsBernoulli's PrinciplePhysicsVelocityProjectile MotionDimensional Analysis
2025/7/22

The problem describes a scenario involving a container with water jets emanating from it at differen...

Fluid DynamicsTorricelli's TheoremProjectile MotionOptimizationPhysics
2025/7/22

A cylindrical tank has small holes drilled vertically along its side, as shown in the diagram. The t...

Fluid DynamicsBernoulli's EquationHydrostaticsPhysicsDimensional Analysis
2025/7/22

The problem is to solve the partial differential equation: $\frac{\partial^2 u}{\partial x^2} + \fra...

Partial Differential EquationsLaplace's EquationSeparation of VariablesBoundary ConditionsCalculus
2025/7/22

The problem requires using the Capital Asset Pricing Model (CAPM) to solve for different variables i...

FinanceCAPMFormula ApplicationPercentage Calculation
2025/7/22

Jamie Wong is building an investment portfolio containing two stocks: Stock L and Stock M. Stock L w...

Portfolio ManagementWeighted AverageFinancial ModelingPercentage Calculation
2025/7/22

The problem asks us to fill in the blanks with either $g$ (grams) or $kg$ (kilograms) to make the st...

Units of MeasurementWeightConversion
2025/7/17

Warda walks at an average speed of 3 km/hr for 45 minutes before running for half an hour at a certa...

Word ProblemDistanceSpeedTimeRateLinear Equations
2025/7/16

Determine the vertical displacement at the point $I$ of the given structure, due to the effect of th...

Structural AnalysisDeflectionBeam TheoryVirtual WorkEngineering Mechanics
2025/7/16

The problem asks to determine the vertical displacement at point I (which I assume is at the top of ...

Structural MechanicsCastigliano's TheoremBeam BendingStrain EnergyDeflectionIntegration
2025/7/16