Use the price-demand equation p+0.004x=39, 0≤p≤39. Find the elasticity of demand when p=$21. If the $21 price is decreased by 6%, what is the approximate percentage change in demand? The elasticity of demand when p=21 is ? (Type an integer or a simplified fraction.)
Use the price-demand equation p+0.004x=39, 0≤p≤39. Find the elasticity of demand when p=$21. If the $21 price is decreased by 6%, what is the approximate percentage change in demand? The elasticity of demand when p=21 is ? (Type an integer or a simplified fraction.)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter2: Functions And Graphs
Section2.3: Linear Functions And Slope
Problem 105E
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Use the price-demand equation
p+0.004x=39,
0≤p≤39.
Find the elasticity of demand when
p=$21.
If the
$21
price is decreased by
6%,
what is the approximate percentage change in demand?The elasticity of demand when
p=21
is
?
(Type an integer or a simplified fraction.)
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