Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Your last submission is used for your score. 14 DETAILS HARMATHAP11 11.5.006.MI. In this problem, p is in dollars and q is the number of

image text in transcribed

image text in transcribedimage text in transcribed
Your last submission is used for your score. 14 DETAILS HARMATHAP11 11.5.006.MI. In this problem, p is in dollars and q is the number of units. Suppose that the demand for a product is given by 2p2q = 30,000 + 7000p. (a) Find the elasticity when p = $50 and q = 3506. (Round your answer to four decimal places.) (b) Tell what type of elasticity this is: unitary, elastic, or inelastic. O Demand is unitary elastic. O Demand is elastic. O Demand is inelastic. (c) How would revenue be affected by a price increase? O An increase in price increases revenue. An increase in price decreases revenue. O Revenue is unaffected by price. Submit Answer MacBook Air12 DETAILS HARMATHAP11 11.4.023. Suppose that a tumor in a person's body has a spherical shape and that treatment is causing the radius of the tumor to decrease at a rate of 1 millimeter per month. At what rate is the volume decreasing when the radius is 9 mm? ( Recall that V = 4 ,/3.) mm /month Submit

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Climate Mathematics Theory And Applications

Authors: Samuel S P Shen, Richard C J Somerville

1st Edition

1108750184, 9781108750189

More Books

Students also viewed these Mathematics questions

Question

Describe the benefits of studying intersectionality.

Answered: 1 week ago