kpxmpj822m kpxmpj822m

26-09-2022
Mathematics

contestada

.A product has the following price demand equation:
f(p) = 300 -0.02p
using the Elasticity of demand equation
E(p= E(p) = Pf'(p)/ f(p)

a. Determine if demand is elastic, inelastic or neither at a price of p=70.
Show the calculus.

b. What affect in Revenue would a small increase in price have?

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