Question: The demand function for Wally Winka's Neverending Lollipops is given by p = (12 - x)In(x + 8) where p is the wholesale unit price

The demand function for Wally Winka's Neverending Lollipops is given by p = (12 - x)In(x + 8) where p is the wholesale

unit price in dollars and x is the quantity demanded each week,

measured in units of a thousand. Compute the price, p, when x

The demand function for Wally Winka's Neverending Lollipops is given by p = (12 - x)In(x + 8) where p is the wholesale unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. Compute the price, p, when x = 6. Do not round your answer. Price, P = Use implicit differentiation to compute the rate of change of demand with respect to price, p, when x = 6. Do not round your answer. Rate of change of demand, x' = Compute the elasticity of demand when x = 6. Do not round your answer. Elasticity of Demand =Elasticity of demand = P . XC ' 6 en ( 14 ) X 7 6 3 - 7 (en (14) ) 7 en (14) 3 - 7 en ( 14 ) Elasticity of demand Ten ( 14 ) 3 - 7 en (14 )

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