In Problem use the pricedemand equation 2p + 0.0lx = 50, 0 p 25. Find
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In Problem use the price–demand equation 2p + 0.0lx = 50, 0 ≤ p ≤ 25.
Find the elasticity of demand when p = $15. If the $15 price is increased by 5%, what is the approximate percentage change in demand?
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College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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