Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 10 Feb 2018 My Price 6.00

economic theory

Price demand equation. According to economic theory, the demand x for a quantity in a free market decreases as the price p increases (see the figure). Suppose that the number x of DVD players people are willing to buy per week from a retail chain at a price of $p is given by

A) Find dx dp.

(B) Find the demand and the instantaneous rate of change of demand with respect to price when the price is $40. Write a brief interpretation of these results.

(C) Use the results from part (B) to estimate the demand if the price is increased to $41.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 10 Feb 2018 09:02 PM My Price 6.00

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