Question
1) A pair of sunglasses has a demand function of p = 135 0.065q. How many pairs can be sold at $65 and what is
1) A pair of sunglasses has a demand function of p = 135 0.065q. How many pairs can be sold at $65 and what is the elasticity of demand?
2) Two equations for price (p) and demand (q): q = 200 sqrt(175p),p = 125. If the demand is inelastic, what is the value of elasticity of the price?
3) (with the picture) How would you find an exponential demand function? p=D(q)?
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Probability and Random Processes With Applications to Signal Processing and Communications
Authors: Scott Miller, Donald Childers
2nd edition
123869811, 978-0121726515, 121726517, 978-0130200716, 978-0123869814
