Problema Solution
A middle eastern oil producing country estimates that the demand for oil(in millions of barrels)is D=(p)28e^.04p where p is the price of a barrel of oil. To raise its revenues, should it raise or lower its price from the current level of $100 per barrel.
Answer provided by our tutors
Click here to see the graph of the function y=28e^(0.04x)
We notice that the demand is growing when the price grows thus they should raise the price.