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The demand for a commodity generally decreases as the price is raised. Suppose that the demand for oil (per capita per year) is D(p) = 1000/p barrels, where p is the price per barrel in dollars. Find the demand when p= 50. Estimate the decrease in demand if p rises to 51 and the increase in demand if p is decreased to 49. The demand D(50) = The decrease in demand = barrels. The increase in demand = barrels.

The demand for a commodity generally decreases as the price is raised. Suppose that the demand for oil (per capita per year) is D(p) = 1000/p barrels, where p is the price per barrel in dollars. Find the demand when p= 50. Estimate the decrease in demand if p rises to 51 and the increase in demand if p is decreased to 49. The demand D(50) = The decrease in demand = barrels. The increase in demand = barrels.

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter2: Functions And Graphs
Section2.3: Linear Functions And Slope
Problem 105E
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The demand for a commodity generally decreases as the price is raised. Suppose that the demand for oil (per capita per year) is D(p) = 1000/p barrels, where p is the price per barrel in dollars. Find the demand when p= 50. Estimate the decrease in demand if p rises to 51 and the increase in demand if p is decreased to 49. The demand D(50) = The decrease in demand = The increase in demand = barrels. barrels.
Transcribed Image Text:The demand for a commodity generally decreases as the price is raised. Suppose that the demand for oil (per capita per year) is D(p) = 1000/p barrels, where p is the price per barrel in dollars. Find the demand when p= 50. Estimate the decrease in demand if p rises to 51 and the increase in demand if p is decreased to 49. The demand D(50) = The decrease in demand = The increase in demand = barrels. barrels.
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