College Algebra - Graphs and Models by R. Barnett, et. al.

By R. Barnett, et. al.

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PRICE AND DEMAND Refer to the relationship between price and demand given in Problem 69. (A) Complete the following table. Approximate each value of x to the nearest hundred cases. x y 35 40 45 (B) Does the demand increase or decrease if the price is increased from $40 to $45? By how much? (C) Does the demand increase or decrease if the price is decreased from $40 to $35? By how much? 71. PRICE AND REVENUE Refer to Problem 69. The revenue from the sale of x cases of paper at $y per case is given by the product R ϭ xy.

This produces the graph in Figure 31. Examining the values of y1 for values of x to the left of this window (Fig. 32), we conclude that there are no other intersection points. 500 Ϫ20 5 Ϫ200 Z Figure 32 Z Figure 31 Now we use the INTERSECT command to find the x coordinates of the three intersection points in Figure 31. We select the two equations as before (Figs. 33 and 34). This time, the guess is very important. We have to specify which intersection point to find. To do this, we make a guess that is close to the desired point.

When we select the INTERSECT command, we are asked to make three choices: the first curve, the second curve, and a guess. When the desired equation is displayed at the top of the screen, press ENTER to select it (Figs. 22 and 23). It doesn’t matter which of the two graphs is designated as the first curve. qxd 11/22/2007 06:14 PM Page 12 pinnacle 110:MHIA064:mhbar3:SE:CH 01: 12 CHAPTER 1 FUNCTIONS, GRAPHS, AND MODELS To enter a guess, move the cursor close to the intersection point (Fig. 24) and press ENTER (Fig.

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