Question

the demand for a product is given by the following demand function:
$d(q) = -0.007q + 86$
where $q$ is units in demand and $d(q)$ is the price per item, in dollars. if 5,000 units are in demand, what price can be charged for each item?
answer:
price per unit = $

Explanation:

Step1: Identify the value of q

We know that \( q = 5000 \) (units in demand).

Step2: Substitute q into the demand function

The demand function is \( D(q)= - 0.007q + 86 \). Substitute \( q = 5000 \) into the function:
\[

$$\begin{align*} D(5000)&=-0.007\times5000 + 86\\ &=- 35+86 \end{align*}$$

\]

Step3: Calculate the result

Calculate \( - 35 + 86=51 \).

Answer:

\( 51 \)