Effect of Luxury Tax on Consumption Government economists of a developing country determined that the purchase of imported perfume is related to a proposed "luxury tax" by the following formula where N(x) measures the percentage of normal consumption of perfume when a "luxury tax" of x% is imposed on it. N(x) =10,000 - 40x-0.02x2 (0 ≤ x ≤ 200) Find the rate of change of N(x) for taxes of 35%, 100%, and 120%. (Round your answers to three decimal places.) 35% tax 100% tax 120% tax consumption/percentage increase in tax consumption/percentage increase in tax consumption/percentage increase in tax

Effect of Luxury Tax on Consumption Government economists of a developing country determined that the purchase of imported perfume is related to a proposed "luxury tax" by the following formula where N(x) measures the percentage of normal consumption of perfume when a "luxury tax" of x% is imposed on it. N(x) =10,000 - 40x-0.02x2 (0 ≤ x ≤ 200) Find the rate of change of N(x) for taxes of 35%, 100%, and 120%. (Round your answers to three decimal places.) 35% tax 100% tax 120% tax consumption/percentage increase in tax consumption/percentage increase in tax consumption/percentage increase in tax

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

ChapterB: Differential Calculus Techniques In Management

Section: Chapter Questions

Problem 8E

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