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Calculus question...help, please?
Here's the question/problem...(has to do with variables/partial derivatives I think)
Weekly steak consumption, C(p, I), (in pounds) of an average household as a function of "p", the price of steak (in $/pound) and "I", annual household income (in $1000's).
Quantity of steak bought (pounds/household/week)
...Table below...
(I/p) | 3.00 | 3.50 | 4.00 | 4.50
20 | 2.65 | 2.59 | 2.51 | 2.43
40 | 4.14 | 4.05 | 3.94 | 3.88
60 | 5.11 | 5.00 | 4.97 | 4.84
80 | 5.35 | 5.29 | 5.19 | 5.07
100 | 5.79 | 5.77 5.60 | 5.53
Find C_"I" (4.00, 40) and interpret it.
SHOW WORK, PLEASE. Best answer to whoever answers fastest and correctly. Thanks!!!
1 Answer
- King LeoLv 79 years agoFavorite Answer
hopefully C_"I" (4.00, 40) implies C(p,I) = C(4.00, 40)
column 4.00 and row 40 intersection
C(4.00, 40) = 3.94 lbs
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this means that on average the household that makes annual income of $40000 will consume 3.94 lbs of steak a week if the price is $4.00 a pound.
