Let P(g) = { 34 +1, 0 2, be the demand function for a manufacturer's product, where q is the number of product units demanded and p is the price per unit in dollars. Assume also that p is continuous on the interval (0, o∞). Then when five units are demanded, an increase of one extra unit demanded corresponds to A. an increase of approximately $7.5 in the price per unit that consumers are willing to раy. B. a decrease of approximately $6 in the price per unit that consumers are willing to раy. C. an increase of approximately $4.5 in the price per unit that consumers are willing to раy. D. a decrease of approximately $1 in the price per unit that consumers are willing to раy. E. no change in the price per unit that consumers are willing to pay

Let P(g) = { 34 +1, 0 2, be the demand function for a manufacturer's product, where q is the number of product units demanded and p is the price per unit in dollars. Assume also that p is continuous on the interval (0, o∞). Then when five units are demanded, an increase of one extra unit demanded corresponds to A. an increase of approximately $7.5 in the price per unit that consumers are willing to раy. B. a decrease of approximately $6 in the price per unit that consumers are willing to раy. C. an increase of approximately $4.5 in the price per unit that consumers are willing to раy. D. a decrease of approximately $1 in the price per unit that consumers are willing to раy. E. no change in the price per unit that consumers are willing to pay

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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