Pearson eText for Calculus & Its Applications -- Instant Access (Pearson+)

14th Edition

ISBN: 9780137400096

Author: Larry Goldstein, David Lay

Publisher: PEARSON+

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Minimization

In mathematics, traditional optimization problems are typically expressed in terms of minimization. When we talk about minimizing or maximizing a function, we refer to the maximum and minimum possible values of that function. This can be expressed in ter…

Maxima and Minima

The extreme points of a function are the maximum and the minimum points of the function. A maximum is attained when the function takes the maximum value and a minimum is attained when the function takes the minimum value.

Derivatives

A derivative means a change. Geometrically it can be represented as a line with some steepness. Imagine climbing a mountain which is very steep and 500 meters high. Is it easier to climb? Definitely not! Suppose walking on the road for 500 meters. Which …

Concavity

In calculus, concavity is a descriptor of mathematics that tells about the shape of the graph. It is the parameter that helps to estimate the maximum and minimum value of any of the functions and the concave nature using the graphical method. We use the …

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Textbook Question

Chapter 5, Problem 22RE

Elasticity of Demand Consider a demand function of the form q = a e − b p , where a and b are positive numbers, Find E ( p ) , and show that the elasticity equals 1 when p = 1 / b .

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Chapter 5, Problem 21RE

Chapter 5, Problem 23RE

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Chapter 5 Solutions

Pearson eText for Calculus & Its Applications -- Instant Access (Pearson+)

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Elasticity of Demand Consider a demand function of the form q = a e − b p , where a and b are positive numbers, Find E ( p ) , and show that the elasticity equals 1 when p = 1 / b .

Solution Summary: The author explains that elasticity equals 1 when p=1b.

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Chapter 5 Solutions