Chapter 4: Problem 26
Use linear approximations to estimate the following quantities. Choose a value of a to produce a small error. $$\sqrt{5 / 29}$$
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Chapter 4: Problem 26
Use linear approximations to estimate the following quantities. Choose a value of a to produce a small error. $$\sqrt{5 / 29}$$
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Economists use demand functions to describe how much of a commodity can be sold at varying prices. For example, the demand function \(D(p)=500-10 p\) says that at a price of \(p=10,\) a quantity of \(D(10)=400\) units of the commodity can be sold. The elasticity \(E=\frac{d D}{d p} \frac{p}{D}\) of the demand gives the approximate percent change in the demand for every \(1 \%\) change in the price. a. Compute the elasticity of the demand function \(D(p)=500-10 p\) b. If the price is \(\$ 12\) and increases by \(4.5 \%,\) what is the approximate percent change in the demand? c. Show that for the linear demand function \(D(p)=a-b p\) where \(a\) and \(b\) are positive real numbers, the elasticity is a decreasing function, for \(p \geq 0\) and \(p \neq a / b\) d. Show that the demand function \(D(p)=a / p^{b}\), where \(a\) and \(b\) are positive real numbers, has a constant elasticity for all positive prices.
Use analytical methods to evaluate the following limits. $$\lim _{n \rightarrow \infty} \frac{1+2+\cdots+n}{n^{2}}( \text {Hint}:$$ $$\left.1+2+\cdots+n=\frac{n(n+1)}{2}.\right)$$
Differentials Consider the following functions and express the relationship between a small change in \(x\) and the corresponding change in \(y\) in the form \(d y=f^{\prime}(x) d x\) $$f(x)=2-a \cos x, a \text { constant }$$
Given the following acceleration functions of an object moving along a line, find the position function with the given initial velocity and position. $$a(t)=-32 ; v(0)=20, s(0)=0$$
Speed function Show that the function \(s(x)=3600(60+x)^{-1}\) gives your average speed in \(\mathrm{mi} / \mathrm{hr}\) if you travel one mile in \(x\) seconds more or less than \(60 \mathrm{mi} / \mathrm{hr}\).
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