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Solve the Problem p=250q4p=250-\frac{q}{4} , Where pp Is the Price (In Dollars) and Q Is the Quantity

Question 180

Multiple Choice

Solve the problem.
-The demand for tickets at a concert hall can be approximated by p=250q4p=250-\frac{q}{4} , where pp is the price (in dollars) and q is the quantity demanded. Use implicit differentiation to find and interpret dqdp\frac{\mathrm{dq}}{\mathrm{dp}} when q=600\mathrm{q}=600 .


A) dqdp=14\frac{\mathrm{dq}}{\mathrm{dp}}=-\frac{1}{4} means that if the price is increased by $1\$ 1 , the quantity demanded decreases by approximately 14\frac{1}{4} tickets.
B) dqdp=4\frac{\mathrm{dq}}{\mathrm{dp}}=-4 means that if the price is decreased by $4\$ 4 , the quantity demanded increases by 1 ticket.
C) dqdp=14\frac{\mathrm{dq}}{\mathrm{dp}}=-\frac{1}{4} means that if the price is decreased by $0.25\$ 0.25 , the quantity demanded increases by 1 ticket.
D) dqdp=4\frac{\mathrm{dq}}{\mathrm{dp}}=-4 means that if the price is increased by $1\$ 1 , the quantity demanded decreases by approximately 4 tickets.

Correct Answer:

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