Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
(iv) Was the approval rate positive or negative on the date of the election? (c) Lara offers 100 autograph bats. If each is priced at p dollars, it is that the demand curve for the bast will be p = 250 -. If price elasticily is E(p) dp bp When JE(p)| < 1, demand is inelastic and when |E(p)| > 1, demand is elastic. (i) Find the price elasticity of demand for Lara's bats. (ii) Is demand inelastic or elastic?

(iv) Was the approval rate positive or negative on the date of the election? (c) Lara offers 100 autograph bats. If each is priced at p dollars, it is that the demand curve for the bast will be p = 250 -. If price elasticily is E(p) dp bp When JE(p)| < 1, demand is inelastic and when |E(p)| > 1, demand is elastic. (i) Find the price elasticity of demand for Lara's bats. (ii) Is demand inelastic or elastic?

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter4: Polynomial And Rational Functions
Section: Chapter Questions
Problem 5T
See similar textbooks
icon
Related questions
Question
100%

Hi please answer b) iv  &  c) i & ii

Thanks

(b) A poll commissioned by a politician estimates that t days after he makes a statement denegrating women, the percentage of his constituency (those who support him at the time he 75(t? – 3t + 25) made the statement) that still supports him is given by S(t) = t2 + 3t + 25 The election is 10 days after he made the statement. (i) If the derivative S'(t) may be thought of as an approval rate, derivate the a function for his approval rate. (ii) When was his support at its lowest level? (iii) What was his minimum support level? lisot3-225 (iv) Was the approval rate positive or negative on the date of the election? (c) Lara offers 100 autograph bats. If each is priced at p dollars, it is that the demand curve dq dp for the bast will be p = 250 - If price elasticily is E(p) = 4 When |E(p)| < 1, demand is inelastic and when |E(p)| > 1, demand is elastic. (i) Find the price elasticity of demand for Lara's bats. (ii) Is demand inelastic or elastic?
Transcribed Image Text:(b) A poll commissioned by a politician estimates that t days after he makes a statement denegrating women, the percentage of his constituency (those who support him at the time he 75(t? – 3t + 25) made the statement) that still supports him is given by S(t) = t2 + 3t + 25 The election is 10 days after he made the statement. (i) If the derivative S'(t) may be thought of as an approval rate, derivate the a function for his approval rate. (ii) When was his support at its lowest level? (iii) What was his minimum support level? lisot3-225 (iv) Was the approval rate positive or negative on the date of the election? (c) Lara offers 100 autograph bats. If each is priced at p dollars, it is that the demand curve dq dp for the bast will be p = 250 - If price elasticily is E(p) = 4 When |E(p)| < 1, demand is inelastic and when |E(p)| > 1, demand is elastic. (i) Find the price elasticity of demand for Lara's bats. (ii) Is demand inelastic or elastic?
Expert Solution
Solution b (iv):

The function is St=75t2-3t+25t2+3t+25 and the derivative is S't=756t2-150t2+3t+252.

The approval rate is At=756t2-150t2+3t+252.

Substitute t = 10:

A10=756102-150102+310+252≈1.405

Hence, the approval rate is positive on the date of election.

c (i):

The demand is p=250-q4.

Differentiate it:  dpdq=-14

Obtain the price elasticity:

Ep=dqq÷dpp=dqdp×pq=-p250-p     since dqdp=1dpdq=-4 and q=4250-p

Therefore, the price elasticity is Ep=-p250-p.

steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Fundamental Counting Principle
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
SEE MORE TEXTBOOKS