You plug in the following:
p' = $2
p = $30
2. You implicitly differentiate, and then plug in:
x' = 6
and equate the equation to: 150
I am not certain of my answers.
I am having problems with the following problem that relates p(price) and demand (x) with the equation:
1. If the price is increasing at a rate of $ 2 per mo. when the price is $ 30; how do I find the rate of change of the demand?
I understand that I need to implicitly dif. but I'm not sure what to plug in after this step...
2. How do I find the rate of change of the price when demand is decreasing 6 units per mo when demand is 150?
Any help would be greatly appreciated
x^2+2xp+25p^2=74,500
for p=30 you can find x from the equation when the price is increasing at a rate of $ 2 per mo.
last equation you found 2x*x'+4x+360=0 now you have x and you can find the rate of change of the demand namely x'
I hope I could make it clear.