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please solve the question below For the demand function given, find the elasticity at the given Price and state whether the demand is elastic, inelastic,
please solve the question below
For the demand function given, find the elasticity at the given Price and state whether the demand is elastic, inelastic, or whether it has unit elasticity. 4} q = one = sane-"m\".- x = a Solve the problem. Must allow work. 5} A Cr'l'lpl'ljl' estimates that the daily cost [in dollars] of producing a: chocolate bars is given by Chi} = 955 + coax + conceal. Currently. the oompa n3 produces 52D cl'iocolate 'oars per day. Use marginal cost to estimate the increase in the dain cost lfone additional chocolate bar is produced per day. 1) Of all numbers whose difference is 2, find the two numbers that have the minimum product. [HINT: Use: y - x = 2 ]. Remember, you must prove it is a minimum. Differentiate implicitly to find the slope of the curve at the given point. 2) x2 + y2 = 1; (2, 3) Find dy/dx by implicit differentiation. 3) xy + 4y - 5 =0Step by Step Solution
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