B1 The demand for the new Fast and Furious 15 DVD is D (p) = -0.05p - 3.7p+ 41 DVDSwhere p is in dollars per DVD. Round all answers to 2 decimal places and use proper units.What is the maximum price, pamax ? $9.79 per DVDWhat is the point of unit elasticity? $5.18 per DVDWhat is the consumer expenditure at the unit elasticity point? $212.38What is the consumer surplus from the unit elasticity point? $48.02

Diaclaimer :- as you posted multipart questions we are supposed to solve the first 3 questions only…

The demand for the new Fast and Furious 15 DVD is D (p) = -0.05p? - 3.7p + 41 DVDS where p is in dollars per DVD. Round all answers to 2 decimal places and use proper units. What is the maximum price, pmar? $9.79 per DVD What is the point of unit elasticity? $5.18 per DVD What is the consumer expenditure at the unit elasticity point? $212.38

The demand for the new Fast and Furious 15 DVD is D (p) = -0.05p? - 3.7p + 41 DVDS where p is in dollars per DVD. Round all answers to 2 decimal places and use proper units. What is the maximum price, pmar? $9.79 per DVD What is the point of unit elasticity? $5.18 per DVD What is the consumer expenditure at the unit elasticity point? $212.38

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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