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8 Apr 2018

c) [6 marks) How many months will be required for the investment to have doubled (answer in calculator ready form).

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Keith Leannon
Keith LeannonLv2
9 Apr 2018
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(c) If the price is $12 and increases by 4%, what is the percentage change in demand? (Hint: Use the price elasticity of demand to answer this question.) You may leave your answer in the simplest calculator-ready form you can find.

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.

1. Consider a linear system of equations whose augmented matrix is 1 1 3 2 1 1 2 43 11 3 alb (a) Reduce the augmented matrix to echelon form. [4 marks) (b) For what values of a and b will the system have infinitely many solutions? [2 marks] (c) For what values of a and b will the system have a unique solution? (2 marks] (c) For what values of a and b will the system have no solution? [2 marks]

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