Thursday, November 27, 2008

So Far the Most Frequently Missed Question on the Calculus Exam

So far a very, very, very tiny fraction of the class can answer this question.
The publisher predicts sales of 15000 study guides at a price of $20 each. At a price of $18 they expect to sell 23000 study guides. Assuming the demand is linear, find the demand function p(x).

Since this is freakin' business calculus, we have a fair number of word problems with business applications. Typically, they'll be given a situation like the one above then have to find the demand function, from there find the revenue function, and then from there find the marginal revenue.

Of course, this becomes a lot harder if you can't find the equation of a damn line given two points and no extraneous information.