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The demand for a product can be approximated by q = D(p) = 90e 0.01p, where p represents the price of the product, in dollars,
The demand for a product can be approximated by q = D(p) = 90e 0.01p, where p represents the price of the product, in dollars, and a is the quantity demanded. (a) Find the elasticity function: E(p) = (b) Evaluate the elasticity at 6. E(O) = (c) Should the unit price be raised slightly from 6 in order to increase revenue? ? (d) Use the elasticity of demand to find the price p which maximizes revenue for this product. p = Round to three decimal places as needed
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