Forecasting Commodity Prices Government economists in a certain country have determined that the demand equation for soy

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Forecasting Commodity Prices Government Economists In A Certain Country Have Determined That The Demand Equation For Soy 1 (16.41 KiB) Viewed 26 times

Forecasting Commodity Prices Government economists in a certain country have determined that the demand equation for soybeans is given by p = f(x) = 51 2x² + 1 where the unit price p is expressed in dollars per bushel and x, the quantity demanded per year, is measured in billions of bushels. The economists are forecasting a harvest of 2 billion bushels for the year, with a possible error of 10% in their forecast. Use differentials to approximate the corresponding error in the predicted price per bushel of soybeans. (Round your answer to one decimal place.) dollars per bushel Need Help? Read It Watch It