Question
suppose a manufacturer can sell f(p)=-65p+5200 units of a product when the price is p dollars per unit. a. Determine the elasticity of demand, E(p),
suppose a manufacturer can sell f(p)=-65p+5200 units of a product when the price is p dollars per unit.
a. Determine the elasticity of demand, E(p), when the price is p=20 dollars
b. Is demand elastic, inelastic, or unit elastic for p=20? Justify your response
c. Given the elasticity you noted above, to increase revenue, should the price to lowered to raised?
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Algebra (subscription)
Authors: Elayn Martin Gay
5th Edition
0134179137, 9780134179131
