Question: HW-24-Elasticity Section 4.10: Problem 7 {1 point) The demand for a product can be approximated by q = D07) = BDe'D'mP. where p represents the

HW-24-Elasticity Section 4.10: Problem 7 {1 point) The demand for a

HW-24-Elasticity Section 4.10: Problem 7 {1 point) The demand for a product can be approximated by q = D07) = BDe'D'mP. where p represents the price of the product, In dollars. and q is the quantity demanded. (a) Find the elasticity function: E(p) = 555 (b) Evaluate the elasticity at 9. 5(9) = {c} Should the unit price he raised slightly from 9 In order to increase revenue? ? V (d) Use the elasticity of demand to flnd the prtoe p which maximizes revenue for this product. p = Bound to three decimal places as needed

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