For the demand function q = D(x) = 400 find the following. a) The elasticity b) The elasticity at x = 7, stating whether the demand is elastic, inelastic, or has unit elasticity c) The value(s) of x for which total revenue is a maximum (assume that x is in dollars) a) Find the equation for elasticity. E(x) =| b) Find the elasticity at the given price, stating whether the demand elastic, inelastic, or has unit elasticity. E(7) = (Simplify your answer. Type an integer or a fraction.) Is the demand at x =7 elastic, inelastic, or does it have unit elasticity? O A. elastic O B. unit elasticity O C. inelastic c) Find the value(s) of x for which total revenue is a maximum (assume that x is in dollars). O A. $ (Round to the nearest cent as needed. Use a comma to separate answers as needed.) O B. The total revenue is independent of x.

For the demand function q = D(x) = 400 find the following. a) The elasticity b) The elasticity at x = 7, stating whether the demand is elastic, inelastic, or has unit elasticity c) The value(s) of x for which total revenue is a maximum (assume that x is in dollars) a) Find the equation for elasticity. E(x) =| b) Find the elasticity at the given price, stating whether the demand elastic, inelastic, or has unit elasticity. E(7) = (Simplify your answer. Type an integer or a fraction.) Is the demand at x =7 elastic, inelastic, or does it have unit elasticity? O A. elastic O B. unit elasticity O C. inelastic c) Find the value(s) of x for which total revenue is a maximum (assume that x is in dollars). O A. $ (Round to the nearest cent as needed. Use a comma to separate answers as needed.) O B. The total revenue is independent of x.

College Algebra

1st Edition

ISBN:9781938168383

Author:Jay Abramson

Publisher:Jay Abramson

Chapter3: Functions

Section3.2: Domain And Range

Problem 61SE: The cost in dollars of making x items is given by the function Cx)=10x+500. a. The fixed cost is...

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