The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p=-0.02r²-0.2x+6 Compute the elasticity of demand when x = 11. (Round your answer to two decimal places.) 0.22 X Determine whether the demand is inelastic, unitary, or elastic when x = 11. O elastic Oinelastic O unitary
The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p=-0.02r²-0.2x+6 Compute the elasticity of demand when x = 11. (Round your answer to two decimal places.) 0.22 X Determine whether the demand is inelastic, unitary, or elastic when x = 11. O elastic Oinelastic O unitary
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter3: Demand Analysis
Section: Chapter Questions
Problem 6E
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