When an electronics store prices a certain brand of stereo at p hundred dollars per set, it
Question:
When an electronics store prices a certain brand of stereo at p hundred dollars per set, it is found that q sets will be sold each month, where q2 + 2p2 = 41.
a. Find the elasticity of demand for the stereos.
b. For a unit price of p = 4 ($400), is the demand elastic, inelastic, or of unit elasticity?
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a First solve q 2 2p 2 41 for q ...View the full answer
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11th Brief Edition
Authors: Laurence Hoffmann, Gerald Bradley, David Sobecki, Michael Price
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