Consider the price-demand equation given by p= 8/5− 12,500/ x. Calculate E(p), the elasticity of demand, and use it to find the value of p for which E(p)=1. Give your answer as a decimal to one decimal place.
Consider the price-demand equation given by p= 8/5− 12,500/ x. Calculate E(p), the elasticity of demand, and use it to find the value of p for which E(p)=1. Give your answer as a decimal to one decimal place.
Trigonometry (MindTap Course List)
10th Edition
ISBN:9781337278461
Author:Ron Larson
Publisher:Ron Larson
Chapter6: Topics In Analytic Geometry
Section: Chapter Questions
Problem 33CT
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Consider the price-demand equation given by
p= 8/5− 12,500/ x.
Calculate E(p), the elasticity of demand, and use it to find the value of p for which E(p)=1. Give your answer as a decimal to one decimal place.
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