ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Marketing surveys conducted by the sales manager for a company determined that 3,000 power drills could be sold for $60 each, but 4,000 drills could be sold for $50 each. (a) If the two data points were plotted on a coordinate system with the number of drills sold on the horizontal axis and the price of each drill on the vertical axis, what is the slope of the line between the two points? (b) Write a sentence that explains the result in part (a) in the context of this problem. For every additional drill sold, the price per drill (in cents) decreases by cent(s). (c) Assuming the trend in part (a) continues, how many drills can be sold for $56? drillsarrow_forwardSolve for x for the following equation: 4ln(3x-8) = 60arrow_forwardNonearrow_forward
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