Given the demand function D(p) = 325 Р

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
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Chapter2: Graphical And Tabular Analysis
Section2.5: Inequalities
Problem 2TU
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325
P
Find the Elasticity of Demand at a price of $26
Given the demand function D(p)
At this price, we would say the demand is:
Elastic
O Unitary
O Inelastic
Based on this, to increase revenue we should:
O Raise Prices
=
Keep Prices Unchanged
O Lower Prices
Transcribed Image Text:325 P Find the Elasticity of Demand at a price of $26 Given the demand function D(p) At this price, we would say the demand is: Elastic O Unitary O Inelastic Based on this, to increase revenue we should: O Raise Prices = Keep Prices Unchanged O Lower Prices
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