[Solution] Demand The demand for ceiling fans can be modeled as D(p)=25.92(0.996^p) thousand ceiling fans where p is the price (in dollars) of a ceiling
Question: Demand The demand for ceiling fans can be modeled as \(D(p)=25.92\left(0.996^{p}\right)\) thousand ceiling fans where \(p\) is the price (in dollars) of a ceiling fan.
- According to the model, is there a price above which consumers will no longer purchase fans? If so, what is it? If not, explain why not.
- Find the amount that consumers are willing and able to spend to purchase 18 thousand ceiling fans.
- Find the quantity of fans that consumers will purchase when the market price is $\$ 100$.
- Find the consumers' surplus when the market price is $\$ 100$.
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