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1. 15 marks] Given that 72 is approximately 50, estimate 78/54.
4. [3 marks) We are given 100 - 22t = 10064. Solve for b.
4. (10 marks) Opad, the blockbuster product of Opple Inc., has a weekly demand q that declines with price p according to q = 1000 e-p/200 (a) Find the elasticity of demand e at the current price of $100. (b) Use the elasticity of demand to calculate the marginal revenue at the current price of $100. Simplify your answer to "calculator ready". (c) If the price is raised by 1%, use the elasticity to estimate the percentage decline in sales.
