Question

he quantity demanded each week x (in units of a hundred) of the Mikado digital camera is related to the unit price p (in dollars) by the demand equation


x

400 5p
(0 ≤ p ≤ 80).    

(a)Is the demand elastic or inelastic when p = 50? 

    Is the demand elastic or inelastic when p = 60

(b)When is the demand unitary? 

(c)If the unit price is lowered slightly from $60, will the revenue increase or decrease? 

(d)If the unit price is increased slightly from $50, will the revenue increase or decrease? 



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