The demand function for a product is modeled by Find the price of the product if the quantity demanded is Round your answer to two decimal places where applicable.
A) $158.51
B) $2,468.78
C) $531.22
D) $2,478.98
E) $541.52

Question

​The demand function for a product is modeled by  Find the price of the product if the quantity demanded is  Round your answer to two decimal places where applicable.
A) ​$158.51 
B) ​$2,468.78 
C) ​$531.22 
D) ​$2,478.98 
E) ​$541.52

Quizplus · Accepted Answer

To find the price when the quantity demanded is 57, we substitute q=57 in the demand function and solve for p:
p = 500 - 15 ln(57) ≈ $531.22 (rounded to two decimal places) 
Therefore, the correct answer is C.

​The Demand Function for a Product Is Modeled by

The Demand Function for a Product Is Modeled by