In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand function p + 59 = 150 at (q, p) = (15, 75). (b) How will a price increase affect total revenue? Since the demand is elastic, an increase in price will decrease the total revenue. Since the demand is unitary, there will be no change in the revenue with a price increase. Since the demand is elastic, an increase in price will increase the total revenue. Since the demand is inelastic, an increase in price will increase the total revenue. Since the demand is inelastic, an increase in price will decrease the total revenue.

Q: In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand…

A: For part a: According to the given information it is required to find the elasticity of demand…

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Q: A garden shop determines the demand function q=D(x)=(2x+400)/(10x+11) during early summer for tomato…

A: Use the formula of elasticity.

Q: The total cost of producing 1 unit of a product is C(x, y) = 36 + 8x + 4y + ху dollars where x is…

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Q: Suppose demand is given by p = 1600 − x. Find the maximum revenue.

A:

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.