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Use the following demand function to complete A & B: D(x)=500e -0.1x^2 A: Find the elasticity of demand function, E(x), in terms of x. Simplify
Use the following demand function to complete A & B:
D(x)=500e-0.1x^2
A: Find the elasticity of demand function, E(x), in terms of x. Simplify if possible.
B: If the current price is x=$2.25, should the price be lowered or raised to maximize revenue? Explain your answer.
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