Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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School organizations raise money by selling candy door to door. The table shows p, the price of the candy, and q, the quantity sold at
that price.
p $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 $2.50
9 2764
2438
1982
1662
1173
798
431
(a) Estimate the elasticity of demand at a price of $1.00. At this price, is the demand elastic or inelastic?
Round your answer to three decimal places.
E =
The demand for the candy is
* at a price of $1.00.
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Transcribed Image Text:School organizations raise money by selling candy door to door. The table shows p, the price of the candy, and q, the quantity sold at that price. p $1.00 $1.25 $1.50 $1.75 $2.00 $2.25 $2.50 9 2764 2438 1982 1662 1173 798 431 (a) Estimate the elasticity of demand at a price of $1.00. At this price, is the demand elastic or inelastic? Round your answer to three decimal places. E = The demand for the candy is * at a price of $1.00.
(b) Estimate the elasticity at each of the prices shown.
Round your answers to three decimal places.
At p = 1.25, E =
At p = 1.50, E =
i
At p = 1.75, E =
i
At p = 2.00, E =
i
At p = 2.25, E =
i
What do you notice about the elasticities?
Elasticity
* as price increases.
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Transcribed Image Text:(b) Estimate the elasticity at each of the prices shown. Round your answers to three decimal places. At p = 1.25, E = At p = 1.50, E = i At p = 1.75, E = i At p = 2.00, E = i At p = 2.25, E = i What do you notice about the elasticities? Elasticity * as price increases.
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