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1. The demand function for a piece of electronic equipment is p = 0.041 + 800 , where p is the unit price (in dollars)
1. The demand function for a piece of electronic equipment is p = 0.041 + 800 , where p is the unit price (in dollars) and x is the quantity demanded. Clearly show your work for each of the following parts. a. Find the marginal revenue function R' . b. Compute R'(5000) and explain the meaning of this result. 0. Rewrite the demand mction for quantity, x, as a function of price, p. d. Find the price elasticity of demand function. e. Determine the price elasticity of demand when the price is $600, and explain the meaning of this result
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