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The demand function for a certain item is p represents the price of an item and Q represents the number of items sold at that price. (a) Evaluate the demand elasticity when p = 3. E(3) = (b) For what value of p is the demand elasticity unitary? p = 0 percent change in quantity Here, "demand elasticity" is the absolute value of for an infinitesimal change in price, so percent change in price Q = 56√32-p². AQ/Q E= lim Ap 0 Ap/p

The demand function for a certain item is p represents the price of an item and Q represents the number of items sold at that price. (a) Evaluate the demand elasticity when p = 3. E(3) = (b) For what value of p is the demand elasticity unitary? p = 0 percent change in quantity Here, "demand elasticity" is the absolute value of for an infinitesimal change in price, so percent change in price Q = 56√32-p². AQ/Q E= lim Ap 0 Ap/p

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter3: Functions
Section3.3: More On Functions; Piecewise-defined Functions
Problem 88E
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The demand function for a certain item is p represents the price of an item and Q represents the number of items sold at that price. (a) Evaluate the demand elasticity when p = 3. E(3) = (b) For what value of p is the demand elasticity unitary? p = 0 percent change in quantity Here, "demand elasticity" is the absolute value of for an infinitesimal change in price, so percent change in price Q = 56√32-p². AQ/Q E= lim Ap 0 Ap/p
Transcribed Image Text:The demand function for a certain item is p represents the price of an item and Q represents the number of items sold at that price. (a) Evaluate the demand elasticity when p = 3. E(3) = (b) For what value of p is the demand elasticity unitary? p = 0 percent change in quantity Here, "demand elasticity" is the absolute value of for an infinitesimal change in price, so percent change in price Q = 56√32-p². AQ/Q E= lim Ap 0 Ap/p
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