q(p) = 10000 - 1000 ln(1 + 10p).
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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1.
PLEASE ANSWER THE QUESTION (hand writing).
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Suppose the demand of a product, a(p), is defined above. |
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1. Compute the elasticity of the demand when the price is $1 100. 2. Is the demand elastic or inelastic at that price? 3. If the price goes up by 15%, compute the decrease in the demand in %. SUBMIT THIS ANSWER BELOW with 3 units of precision. 4. If we increase the price, are we going to increase or decrease the revenue? |
Transcribed Image Text:q(p) = 10000 - 1000 ln(1 + 10p).
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