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Suppose that in a given store, customers are willing to buy y pounds of coffee beans...

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Basic Math

Suppose that in a given store, customers are willing to buy ypounds of coffee beans per day at $x per pound, as given by theprice-demand equation y=10+(180/x) for 2 (is less than or equal to)x (is less than or equal to) 10.

a. Find y’ with appropriate units. Explain what the firstderivative means in this situation by hand.

b. Find the demand and the instantaneous rate of change ofdemand with respect to price when the price is $5.

c. Use a table of values to sketch a well-labelled graph of thisfunction between $2 and $10 per pound.

d. Does the rate of demand increase or decrease over time?Explain.

Answer & Explanation Solved by verified expert
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Differentiate y with respect to x to get y Then    See Answer
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