(*^ ::[ frontEndVersion = "Macintosh Mathematica Notebook Front End Version 2.1"; macintoshStandardFontEncoding; paletteColors = 128; automaticGrouping; currentKernel; fontset = title, inactive, noPageBreakBelow, nohscroll, preserveAspect, groupLikeTitle, center, M7, bold, e8, 24, "Times"; ; fontset = subtitle, inactive, noPageBreakBelow, nohscroll, preserveAspect, groupLikeTitle, center, M7, bold, e6, 18, "Times"; ; fontset = subsubtitle, inactive, noPageBreakBelow, nohscroll, preserveAspect, groupLikeTitle, center, M7, italic, e6, 14, "Times"; ; fontset = section, inactive, noPageBreakBelow, nohscroll, preserveAspect, groupLikeSection, grayBox, M22, bold, a20, 18, "Times"; ; fontset = subsection, inactive, noPageBreakBelow, nohscroll, preserveAspect, groupLikeSection, blackBox, M19, bold, a15, 14, "Times"; ; fontset = subsubsection, inactive, noPageBreakBelow, nohscroll, preserveAspect, groupLikeSection, whiteBox, M18, bold, a12, 12, "Times"; ; fontset = text, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = smalltext, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 10, "Times"; ; fontset = input, noPageBreakInGroup, nowordwrap, preserveAspect, groupLikeInput, M42, N23, bold, L-5, 12, "Courier"; ; fontset = output, output, inactive, noPageBreakInGroup, nowordwrap, preserveAspect, groupLikeOutput, M42, N23, L-5, 12, "Courier"; ; fontset = message, inactive, noPageBreakInGroup, nowordwrap, preserveAspect, groupLikeOutput, M42, N23, R65535, L-5, 12, "Courier"; ; fontset = print, inactive, noPageBreakInGroup, nowordwrap, preserveAspect, groupLikeOutput, M42, N23, L-5, 12, "Courier"; ; fontset = info, inactive, noPageBreakInGroup, nowordwrap, preserveAspect, groupLikeOutput, M42, N23, B65535, L-5, 12, "Courier"; ; fontset = postscript, PostScript, formatAsPostScript, output, inactive, noPageBreakInGroup, nowordwrap, preserveAspect, groupLikeGraphics, M7, l34, w282, h287, 12, "Courier"; ; fontset = name, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, italic, 10, "Geneva"; ; fontset = header, inactive, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = leftheader, inactive, L2, 12, "Times"; ; fontset = footer, inactive, noKeepOnOnePage, preserveAspect, center, M7, 12, "Times"; ; fontset = leftfooter, inactive, L2, 12, "Times"; ; fontset = help, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 10, "Times"; ; fontset = clipboard, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = completions, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = special1, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = special2, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = special3, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = special4, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; fontset = special5, inactive, nohscroll, noKeepOnOnePage, preserveAspect, M7, 12, "Times"; ; ] :[font = completions; inactive; preserveAspect; ] Exponential Models with Immigration -- Stretch Your Understanding The cell below looks at one particular price model based on the law of supply and demand. Evaluate it now and then use it as a basis for answering the questions in the Stretch Your Understanding section. ;[s] 3:0,2;65,0;158,1;272,-1; 3:1,13,9,Times,0,12,0,0,0;1,13,9,Times,1,12,65535,0,0;1,13,9,Times,1,12,0,0,0; :[font = input; preserveAspect; ] Clear[Supply, Demand, Price, k] k := .0001 Supply[p_] := 500(p - 0.50) Demand[p_] := 1000(2 - p) Price[1] := 1.00 Fcn[p_] := p + k(Demand[p] - Supply[p]) Price[n_] := Fcn[Price[n - 1]] ListPlot[Table[{i, Price[i]}, {i, 1, 20}], PlotJoined -> True, PlotRange -> {0, 2}] ^*)