Suppose that the demand for a product is given by pq + p = 5000. (a) Find

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Suppose that the demand for a product is given by pq + p = 5000.
(a) Find the elasticity when p = $50 and q = 99.
(b) Tell what type of elasticity this is: unitary, elastic, or inelastic.
(c) How would revenue be affected by a price increase?

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Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Question Posted: Feb 09, 2018 07:09 AM

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Suppose that the demand for a product is given by pq + p = 5000. (a) Find

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pq p 5000 a At 99 50 the elast...View the full answer

Mathematical Applications for the Management Life and Social Sciences

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