V =! Things to remember: E(p) = - pf'(p)

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dx (B) From (2), d!(4x + 5) (5x + 100) Setting x 150 in (1), we get 45,000 + 750 + 50 2 80,000 or 2 + 15-700 0!15 ± 55 2 "15 ± 225 + 2800 and 2 Since 0, 20. Now, for x 150, 20 and dx d -[4(150) + 5(20)]("6) 5(150) + 100(20) 4200 2750 1.53-35, 20-6, we have Thus, the rice is increasing at the rate of $1.53 er month. 31. Volume V πr 2 h, where h thickness of the circular oil slick. Since h 0.1 1, we have: 10 V! 10 R2 Differentiating with resect to t: # d % " dv $ Given: dr dv! 5 & 10 R2 ( '! dr 2R 10! 5 R dr 0.32 when R 500. Therefore, (500)(0.32) 100π(0.32) 100.48 cubic feet er minute. EXERCISE 4-7 Things to remember: 1. RELATIVE AND PERCENTAGE RATES OF CHANGE The RELATIVE RATE OF CHANGE of a function f(x) is f'(x) f(x). The PERCENTAGE RATE OF CHANGE is 100 f'(x) f(x). 2. ELASTICITY OF DEMAND If rice and demand are related by x f(), then the ELASTICITY OF DEMAND is given by E() - f'() f() 198 CHAPTER 4 ADDITIONAL DERIVATIVE TOPICS

3. INTERPRETATION OF ELASTICITY OF DEMAND E() Demand Interretation 0 < E() < 1 Inelastic Demand is not sensitive to changes in rice. A change in rice roduces a smaller change in demand. E() > 1 Elastic Demand is sensitive to changes in rice. A change in rice roduces a larger change in demand. E() 1 Unit A change in rice roduces the same change in demand. 4. REVENUE AND ELASTICITY OF DEMAND If R() f() is the revenue function, then R'() and [1 - E()] always have the same sign. Demand is inelastic [E() < 1, R'() > 0]: A rice increase will increase revenue. A rice decrease will decrease revenue. Demand is elastic [E() > 1, R'() < 0]: A rice increase will decrease revenue. A rice decrease will increase revenue. 1. f(x) 25 f (x) 0 Relative rate of change of f: f "(x) f(x) 0 25 0 3. f(x) 30x f (x) 30 Relative rate of change of f: f "(x) f(x) 30 30x 1 x 5. f(x) 10x + 500 f'(x) 10 Relative rate of change of f: f'(x) f(x) 10 10x + 500 1 x + 50 7. f(x) 100x - 0.5x 2 f'(x) 100 - x Relative rate of change of f: f'(x) f(x) 100! x 100x! 0.5x 2 9. f(x) 4 + 2e -2x f'(x) -4e -2x Relative rate of change of f: f'(x) f(x)!4e!2x 4 + 2e!2x - 2e!2x 2 + e!2x " e 2x e 2x - 2 1 + 2e 2x EXERCISE 4-7 199

11. f(x) 25x + 3x ln x f'(x) 25 + 3 ln x + 3 28 + 3 ln x Relative rate of change of f: f'(x) f(x) 13. x f() 12,000-10 2 f'() -20 Elasticity of demand: E()!f'() f() 28 + 3 ln x 25x + 3x ln x 20 2 12,000! 10 2 2000 (A) At 10: E(10) 12,000! 1000 2000 11,000 2 11 Demand is inelastic. 8000 (B) At 20: E(20) 12,000! 4000 8000 1; unit elasticity. 8000 18,000 (C) At 30: E(30) 12,000! 9,000 18,000 3,000 6 Demand is elastic. 15. x f() 950-2 - 0.1 2 f'() -2-0.2 Elasticity of demand: E()!f'() f() 2 + 0.2 2 950! 2! 0.1 2 60 + 180 (A) At 30: E(30) 950! 60! 90 240 800 3 10 Demand is inelastic. 100 + 500 (B) At 50: E(50) 950! 100! 250 600 1; unit elasticity. 600 140 + 980 (C) At 70: E(70) 950! 140! 490 1120 320 3.5 Demand is elastic. 17. + 0.005x 30 (A) x 30! 0.005 6000-200, 0 30 (B) f() 6000-200 f'() -200 Elasticity of demand: E()!f'() f() 200 6000! 200 30! 10 (C) At 10: E(10) 30! 10 1 2 0.5 If the rice increases by 10%, the demand will decrease by aroximately 0.5(10%) 5%. 200 CHAPTER 4 ADDITIONAL DERIVATIVE TOPICS

25 (D) At 25: E(25) 30! 25 5 If the rice increases by 10%, the demand will decrease by aroximately 5(10%) 50%. 15 (E) At 15: E(15) 30! 15 1 If the rice increases by 10%, the demand will decrease by aroximately 10%. 19. 0.02x + 60 (A) x 60! 0.02 3000-50, 0 60 (B) R() (3000-50) 3000-50 2 (C) f() 3000-50 f'() -50 Elasticity of demand: E()!f'() f() 50 3000! 50 (D) Elastic: E() Inelastic: E() 60! > 1 > 60 - > 30, 30 < < 60 60! < 1 < 60 - < 30, 0 < < 30 60! (E) R'() f() [1 - E()] (equation (9)) R'() > 0 if E() < 1; R'() < 0 if E() > 1 Therefore, revenue is increasing for 0 < < 30 and decreasing for 30 < < 60. (F) If $10 and the rice is decreased, revenue will also decrease. (G) If $40 and the rice is decreased, revenue will increase. 21. x f() 10( - 30) 2, 0 30 f'() 20( - 30)![20(! 30)] Elasticity of demand: E() 10(! 30) 2 Elastic: E() - Inelastic: E() -!2! 30 2! 30 > 1-2 < - 30 ( - 30 < 0 reverses inequality) -3 < -30 > 10; 10 < < 30 2! 30 < 1-2 > - 30 ( - 30 < 0 reverses inequality) -3 > -30 < 10; 0 < < 10 EXERCISE 4-7 201

23. x f() 144 " 2, 0 72 f'() 1 2 (144-2)-1/2 (-2) Elasticity of demand: E() Elastic: E() Inelastic: E() 144! 2 "1 144 " 2 144! 2 > 1 > 144-2 3 > 144 > 48, 48 < < 72 144! 2 < 1 < 144-2 3 < 144 < 48, 0 < < 48 25. x f() 2,500 " 2 2 0 25 2 f'() 1 2 (2,500-22 ) -1/2 (-4)!2 (2, 500! 2 2 ) 1 2 2 2 Elasticity of demand: E() 2,500! 2 2 2 1,250! 2 2 Elastic: E() 1,250! 2 > 1 Inelastic: E() 2 > 1,250-2 2 2 > 1,250 2 > 625 > 25, 25 < < 25 2 2 1,250! 2 < 1 2 < 1,250-2 2 2 < 1,250 2 < 625 < 25, 0 < < 25 202 CHAPTER 4 ADDITIONAL DERIVATIVE TOPICS

27. x f() 20(10 - ) 0 10 R() f() 20(10 - ) 200-20 2 R'() 200-40 Critical value: R'() 200-40 0; 5 Sign chart for R'(): + + + + 0 - - - - Test Numbers R'() R() 0 5 10 Increasing Decreasing Demand: Inelastic Elastic x R'() 0 200(+) 10!200(!) 29. x f() 40( - 15) 2 0 15 R() f() 40( - 15) 2 R'() 40( - 15) 2 + 40(2)( - 15) 40( - 15)[ - 15 + 2] 40( - 15)(3-15) 120( - 15)( - 5) Critical values [in (0, 15)]: 5 Sign chart for R'(): Test Numbers R'() + + + 0 - - - - - R() 0 5 10 15 Increasing Decreasing Demand: Inelastic Elastic x R'() 0 (+) 10 (!) 31. x f() 30-10 0 9 R() f() 30-10 1 R'() 30-10 - 10 2-1/2 30-10 - 5 30-15 Critical values: R'() 30-15 0 Sign chart for R'(): R'() + + + 0 - - - R() 0 4 9 Increasing Decreasing Demand: Inelastic Elastic x 2; 4 Test Numbers R'() 0 30(+) 5 (!) EXERCISE 4-7 203

33. g(x) 50-0.1x g'(x) -0.1 E(x) - g(x) xg'(x) - 50! 0.1x!0.1x E(200) 500 200-1 3 2 35. g(x) 50-2 x 500 x - 1 g'(x) - 1 x E(x) - g(x) xg'(x) - 50 " 2 x # x % & " ( E(400) 50 20-2 1 2 $ 1 x ' 50 x - 2 37. x f() A -k, A, k ositive constants f'() -Ak -k-1 E()!f'() f() Ak!k A!k k 39. The comany's daily cost is increasing by 1.25(20) $25 er day. 41. x + 400 2,000 x f() 2,000-400 f'() -400 Elasticity of demand: E() E(2) 2 3 < 1 400 2,000! 400 5! The demand is inelastic; a rice increase will increase revenue. 43. x + 1,000 800 x f() 800-1,000 f'() -1,000 Elasticity of demand: E() 1,000 800! 1,000 5 4! 5 E(0.30) 1.5 4! 1.5 1.5 2.5 3 5 < 1 The demand is inelastic; a rice decrease will decrease revenue. 45. From Problem 41, R() f() 2,000-400 2 R'() 2,000-800 Critical values: R'() 2,000-800 0 800 2000 2.50 R"() -800 Since 2.50 is the only critical value and R"(2.50) -800 < 0, the maximum revenue occurs when the rice $2.50. 204 CHAPTER 4 ADDITIONAL DERIVATIVE TOPICS

y 47. f(t) 0.34t + 14.6, 0 t 50 f'(t) 0.34 3 Percentage rate of change: 100 f'(t) f(t) 34 0.34t + 14.6 49. r(t) 11.3-3.6 ln t r'(t) - 3.6 t Relative rate of change of f(t): f'(t)!3.6 f(t) t 11.3! 3.6 ln t!3.6 11.3t! 3.6 t ln t C(t) Relative rate of change in 2002: C(12)!3.6 11.3(12)! 3.6(12)ln(12) -0.13 The relative rate of change for robberies annually er 1,000 oulation age 12 and over is aroximately -0.13. 50 t CHAPTER 4 REVIEW 1. A(t) 2000e 0.09t A(5) 2000e 0.09(5) 2000e 0.45 3136.62 or $3136.62 A(10) 2000e 0.09(10) 2000e 0.9 4919.21 or $4919.21 A(20) 2000e 0.09(20) 2000e 1.8 12,099.29 or $12,099.29 (4-1) 2. d dx (2 ln x + 3ex ) 2 d dx ln x + 3 d dx ex 2 x + 3ex (4-2) 3. d dx e2x-3 e 2x-3 d (2x - 3) (by the chain rule) dx 2e 2x-3 (4-4) 4. y ln(2x + 7) 1 y' 2x + 7 (2) 2 2x + 7 (by the chain rule) (4-4) 5. y ln u, where u 3 + e x. (A) y ln[3 + e x ] (B) dy dx dy du du dx 1 u (ex ) 1 3 + e x (ex ) e x 3 + e x (4-4) CHAPTER 4 REVIEW 205