Demand
- Verbal Analysis -

Situation:

From past experience, a publisher knows that a particular type of book will sell 14,000 copies at a price of $20 each. Market research further indicates that for every one-dollar increase in price, sales will fall by 400 copies. The publisher asks for your advice in deciding the suggested retail price of the next book published.1

What do you think?

Name:

Your e-mail address:

  1. From the symbolic analysis, which of the following expressions describes the number of books sold?


    x     20+x     400x     14000-400x

     

  2. Which type(s) of analysis did you prefer?

    Symbolic Numerical Numerical, with TI-83 Graphical

     

  3. Why did you prefer that type of analysis?

     

  4. What would you recommend to the publisher?

   

1

Problems of this type may be found in Mathematical Analysis, 3rd. Ed. By Arya and Lardner, published by Prentice Hall, 1989, page 93.

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