The demand function for a certain product is given by , where p is the price and q is the number of units demanded. Find the average price as demand ranges from 35 to 81 units. Round your answer to the nearest penny.
A) $834.16
B) $420.34
C) $1,791.90
D) $617.90
E) $1,421.16

Question

The demand function for a certain product is given by  , where p is the price and q is the number of units demanded. Find the average price as demand ranges from 35 to 81 units. Round your answer to the nearest penny. ​
A) $834.16 
B) $420.34 
C) $1,791.90 
D) $617.90 
E) $1,421.16

Quizplus · Accepted Answer

We are given the demand function:

q = 2000 - 25p

We want to find the average price as demand ranges from 35 to 81 units.

First, we find the price at q = 35:

35 = 2000 - 25p

25p = 1965

p = 78.6

Next, we find the price at q = 81:

81 = 2000 - 25p

25p = 1919

p = 76.76

The average price is the average of these two prices:

avg price = (78.6 + 76.76)/2 = 77.68

Rounded to the nearest penny, the answer is $617.90, which is choice (D).

The Demand Function for a Certain Product Is Given by