Concept explainers
Demand and Revenue The price p that OHaganBooks.com charges for its latest leather-bound gift edition of The Complete Larry Potter is related to the demand q in weekly sales by the equation
Suppose the price is set at $50, which would make the demand 1,000 copies per week.
a. Using implicit
b. Use the result of part (a) to compute the rate of change of revenue with respect to price. Should the price be raised or lowered to increase revenue?
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Applied Calculus
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