In Problem use the pricedemand equation p + 0.004x = 32, 0 p 32. Find
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In Problem use the price–demand equation p + 0.004x = 32, 0 ≤ p ≤ 32.
Find the elasticity of demand when p = $22. If the $22 price is decreased by 5%, what is the approximate percentage change in demand?
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p 0004x 32 x 32 p 0004 x 8000 250p q 0 p 32 ...View the full answer
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Related Book For
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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