Question 1 :

Use linear approximation, i.e. the tangent line, to approximate v81.2 as follows: Let f (ac) = Vac. Find the equation of the tangent line to f(x) at x = 81 L(ac) = Using this, we find our approximation for V81.2 is NOTE: For this part, give your answer to at least 9 significant figures or use an expression to give the exact answer.Given the function below f(:1:) = \\3/36m3 9 Find the equation ofthe tangent line to the graph of the function at a: = 1. Answer in mm + 1) form. Use the tangent line to approximate f(1.1). L(1.1) 2 Compute the actual value of f(1.1). What is the error between the function value and the linear approximation? Answer as a positive value only_. |error| w (Approximate to at least 5 decimal places.) Given the demand function D(p) = 1 /100 3 , Find the Elasticity of Demand at a price of $1 0 At this price, we would say the demand is: Elastic Unitary Inelastic Based on this, to increase revenue we should: Keep Prices Unchanged Lower Prices Raise Prices Given the demand function D(p) = 300 3P2: Find the Elasticity of Demand at a price of $4 At this price, we would say the demand is: Inelastic Elastic Unitary Based on this, to increase revenue we should: Raise Prices Keep Prices Unchanged Lower Prices 175 Given the demand function D(p) = , P Find the Elasticity of Demand at a price of $46 At this price, we would say the demand is: Inelastic Elastic Unitary Based on this, to increase revenue we should: Keep Prices Unchanged Lower Prices Raise Prices Suppose the demand for a product is given by D(p) = 7p -l- 225. A) Calculate the elasticity of demand at a price of $8. (Give your answer to three decimal places.) Elasticity = B) At what price do you have unit elasticity? (Round your answer to the nearest penny.) Price = $