K The demand equation for a product is q=450-40p+p² where p is the price per unit (in dollars) and q is the quantity of units demanded (in thousands). Find the point elasticity 1 of demand when p = 15. If this price of 15 is increased by 2%, what is the approximate change in demand? The point elasticity of the demand equation for p = 15 is n= (Simplify your answer.)
K The demand equation for a product is q=450-40p+p² where p is the price per unit (in dollars) and q is the quantity of units demanded (in thousands). Find the point elasticity 1 of demand when p = 15. If this price of 15 is increased by 2%, what is the approximate change in demand? The point elasticity of the demand equation for p = 15 is n= (Simplify your answer.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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The demand equation for a product is
q=450-40p+p²
where p is the price per unit (in dollars) and q is the quantity of units demanded (in thousands). Find the point elasticity
1
of demand when p = 15. If this price of 15 is increased by 2%, what is the approximate change in demand?
The point elasticity of the demand equation for p = 15 is n=
(Simplify your answer.)
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