The demand curve for a product is given by q = f(p) = 6000e^-0.16p where q is the quantity sold and p is the price of the product, in dollars. Find f(2) and f ' (2). Explain in economic terms what information each of these answers gives you. Round your answers to the nearest integer.
f(2) =
f ' (2) =
Choose the correct answers:
a The function f(2) tells us the decrease in the quantity sold if the price is deceased $1 from $2.
b The function f(2) tells us how many units can be sold if the product sells for $2
c The function f(2) tells us the decrease in the quantity sold if the price is increased $1 from $2.
a The function f ' (2) tells us the decrease in the quantity sold if the price is deceased $1 from $2
b The function f ' (2) tells us how many units can be sold if the product sells for $2
c The function f ' (2) tells us the decrease in the quantity sold if the price is increased $1 from $2.