Problem

The demand x is the number of items that can be sold at a"price of $p. For x=6,000p33, find the rate of change of p with respect to x by differentiating implicitly.

Answer

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Answer

Thus, the rate of change of p with respect to x is 1p2(6000p3)2/3.

Steps

Step 1 :Given the equation x=6000p33, we want to find the rate of change of p with respect to x. This is equivalent to finding dpdx.

Step 2 :To do this, we first need to differentiate both sides of the equation with respect to x.

Step 3 :Starting with the left side, the derivative of x with respect to x is simply 1.

Step 4 :For the right side, we use the chain rule for differentiation. The chain rule states that the derivative of a composite function is the derivative of the outer function times the derivative of the inner function.

Step 5 :The outer function is u3 and the inner function is 6000p3. The derivative of the outer function is 13u2/3 and the derivative of the inner function is 3p2.

Step 6 :Applying the chain rule, we get 13(6000p3)2/3(3p2).

Step 7 :Simplifying this expression, we get p2(6000p3)2/3.

Step 8 :Setting the derivatives equal to each other, we get 1=p2(6000p3)2/3.

Step 9 :Solving for dpdx, we get dpdx=1p2(6000p3)2/3.

Step 10 :Thus, the rate of change of p with respect to x is 1p2(6000p3)2/3.

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