1. The demand function for a certain brand of compact discs is given by P = -2x4 - 4x + 33 where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. (a) Compute the price, p, when x = 3. Price, p = dollars (b) Use implicit differentiation to compute the rate of change of demand with respect to price, p, when x = 3. Do not round your answer. Rate of change of demand, x' = thousands of units per dollar (c) Compute the elasticity of demand when x = 3. Do not round your answer. Elasticity of Demand = 2. The yearly demand function for Bakery cookie trays is given by x2 + 2p2 + 7x + 6p = 250 where p is the wholesale unit price in dollars and x is the quantity demanded each year, measured in units of a thousand. (a) Compute the price, p, when x = 10. Price, P = dollars (b) Use implicit differentiation to compute the rate of change of demand with respect to price, p, when x = 10. Do not round your answer. Rate of change of demand, x' = thousands of units per dollar (c) Compute the elasticity of demand when x = 10. Do not round your answer Elasticity of Demand =