Suppose the demand for a certain item is given by D(p) = - 2p? - 4p+ 500, where p represents the price of the item in dollars. a. Find the rate of change of demand with respect to price. b. Find and interpret the rate of change of demand when the price is $8. a. The rate of change of demand with respect to price is (Simplifty your answer.) b. Choose the correct answer below and fil in any answer boxes in your choice. O A. When the price is $8, demand is increasing at a rate of about items for each increase in price of $8. B. When the price is $8, demand is decreasing at a rate of about C. When the price is $8, demand is decreasing at a rate of about items for each increase in price of $8. items for each increase in price of $1. D. When the price is $8, demand is increasing at a rate of about items for each increase in price of $1.

Suppose the demand for a certain item is given by D(p) = - 2p? - 4p+ 500, where p represents the price of the item in dollars. a. Find the rate of change of demand with respect to price. b. Find and interpret the rate of change of demand when the price is $8. a. The rate of change of demand with respect to price is (Simplifty your answer.) b. Choose the correct answer below and fil in any answer boxes in your choice. O A. When the price is $8, demand is increasing at a rate of about items for each increase in price of $8. B. When the price is $8, demand is decreasing at a rate of about C. When the price is $8, demand is decreasing at a rate of about items for each increase in price of $8. items for each increase in price of $1. D. When the price is $8, demand is increasing at a rate of about items for each increase in price of $1.

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter3: Market Demand And Supply

Section: Chapter Questions

Problem 12SQ

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