MATA32H3 Study Guide - Quiz Guide: Partition CoefficientExam
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MATA32 – Winter 2010
Quiz 3: Solutions
1. The demand equation for a product is p= 82−
2q. Express qin terms of p, using only
base 10 logarithms.
Take the logarithm (base 10) of both sides. We ﬁnd:
log p= log 82−
= 2 log 8 −1
From this we deduce that
2qlog 8 = 2 log 8 −log p.
Multiplying both sides by 2 and dividing both sides by log 8, we
q=2(2 log 8 −log p)
log 8 .
Continued on reverse...
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