A general exponential demand function has the form q = Ae-bP (A and b nonzero constants). %3D (a) Obtain a formula for the price elasticity E of demand at a unit price of p. E = (b) Obtain a formula for the price p that maximizes revenue. p =

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 60SE: The formula for the amount A in an investmentaccount with a nominal interest rate r at any timet is...
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A general exponential demand function has the form q = Ae-bp (A and b nonzero constants).
(a) Obtain a formula for the price elasticity E of demand at a unit price of p.
E =
(b) Obtain a formula for the price p that maximizes revenue.
p =
Transcribed Image Text:A general exponential demand function has the form q = Ae-bp (A and b nonzero constants). (a) Obtain a formula for the price elasticity E of demand at a unit price of p. E = (b) Obtain a formula for the price p that maximizes revenue. p =
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