The price of a certain commodity in dollars per unit at time t (measured in weeks) is given by

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.

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What is the price of the commodity at ?

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$__________/unit

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How fast is the price of the commodity changing at ?

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__________ (increasing / decreasing) at the rate of  $__________/wk

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Find the equilibrium price of the commodity.  (Hint: It's given by . Also, use the fact that .)

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$__________/unit



What will be an ideal response?


12; decreasing; 15; 8

Mathematics

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Mathematics