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If a price-demand equation is solved for p, then price is expressed as p= g(x) and x becomes the independent variable. It can be shown that the elasticity of demand is given by the following formula. g(x) xg'(x) E(x) = Find E(x) when p = g(x) = 70 -0.2x and x = 100. E(100) =

If a price-demand equation is solved for p, then price is expressed as p= g(x) and x becomes the independent variable. It can be shown that the elasticity of demand is given by the following formula. g(x) xg'(x) E(x) = Find E(x) when p = g(x) = 70 -0.2x and x = 100. E(100) =

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 18T
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Business calculus
If a price-demand equation is solved for p, then price is expressed as p = g(x) and x becomes the independent variable. It can be shown that the elasticity of demand is given by the following formula. g(x) E(x) = - xg'(x) Find E(x) when p= g(x) = 70 -0.2x and x = 100. E(100) = Next
Transcribed Image Text:If a price-demand equation is solved for p, then price is expressed as p = g(x) and x becomes the independent variable. It can be shown that the elasticity of demand is given by the following formula. g(x) E(x) = - xg'(x) Find E(x) when p= g(x) = 70 -0.2x and x = 100. E(100) = Next
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