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13 Nov 2019
Q16 Suppose that the price p (in dollars) and the demand x (in thousands) of a commodity satisfy the demand equation 6p + Ï + xp = 94, How fast is demand changing at a time when the price is set at $9 and is rising at a rate of $2 per week.
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Tod Thiel
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12 Mar 2019
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11. O 1/2 points 1 The demand equation for rubies at Royal Ruby Retailers is +-100 where q is the number of rubies RRR can sell per week at p dollars per ruby. R rate of one ruby per week. How fast is the price changing? (Round your answer to the nearest cent.) The price is increasing by a Show My Work (opona
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Show transcribed image text
. 2/6 points | Previous Answers WaneAC7 5 R.035 Demand for the latest best-seller at OHaganBooks.com, A River Burns through It, is given by p+ 33p +9 (18 Sp s 28) copies sold per week when the price is p dollars. (a) Find the price elasticity of demand E as a function of p. E(p) (b) Find the elasticity of demand for this book at a price of $21. (Round your answer to two decimal places.) Interpret the answer. @ when the price is $21, price is dropping at this rate per 1% increase in the demand. When the price is $21, demand is rising at this rate per 1% increase in the price. when the price is $21, demand is dropping at this rate per 1% increase in the price. @ when the pnce is $21, price is rising at this rate per 1% increase in the demand. Find the elasticity of demand for this book at a price of $23. (Round your answer to two decimal places.) Interpret the answer. @ when the price is $23, price is rising at this rate per 1% increase in the demand. when the price is $23, demand is rising at this rate per 1% increase in the price. when the price is $23, price is dropping at this rate per 1% increase in the demand. When the price is $23, demand is dropping at this rate per 1% increase in the price. (c) What price should the company charge to obtain the largest revenue? (Round your answer to the nearest cent.)
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demand function for a certain make of replacement cartridges for a water purifier is given by the following equation where Ï is the unit price in dollars and x is the quant demanded each week, measured in units of a thousand. p--0.012-0.3 13 Determine the consumers' surplus if the market price is set at $9/cartridge.(Round your answer to two decimal places Need Help?Resd H
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