Mead Plumbing currently sells thread seal tape at a price of $42.00 per roll. Their research department has derived the price-demand equation as p = 60 - 0.02x where x is the number of tapes that can be sold at $p per roll of tape. (a) Express the demand x as a function of price p. Find the domain of this function. (b) Find the elasticity of demand, E (p), in reduced form. (c) If Mead Plumbing decides to increase their current price, would their revenue increase or decrease? Explain how you arrived at your answer.
Mead Plumbing currently sells thread seal tape at a price of $42.00 per roll. Their research department has derived the price-demand equation as p = 60 - 0.02x where x is the number of tapes that can be sold at $p per roll of tape. (a) Express the demand x as a function of price p. Find the domain of this function. (b) Find the elasticity of demand, E (p), in reduced form. (c) If Mead Plumbing decides to increase their current price, would their revenue increase or decrease? Explain how you arrived at your answer.
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 44E
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can you do it on paper please thanks ;)
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