Suppose the weekly demand function for a product is q = 5000 / 1 + e2p -
Question:
q = 5000 / 1 + e2p - 1
where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1000 and the quantity demanded is 595?
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Related Book For
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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