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Given the demand equation 25p+x=1,000 b) express the demand equation x as a function of the price p b) find the elasticity of demand, e(p)
Given the demand equation 25p+x=1,000
b) express the demand equation x as a function of the price p
b) find the elasticity of demand, e(p)
c) find e (15) and interpret
d) express the revenue function as a function of price p
e) if p=25 dollars, what is the effect of a price cut on revenue
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