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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) =

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter3: The Derivative
Section3.CR: Chapter 3 Review
Problem 8CR
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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) 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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