Exercises 115117: Let q be the number of units of a product (cell phones, barrels of
Chapter 3, Problem 116(choose chapter or problem)
Exercises 115117: Let q be the number of units of a product (cell phones, barrels of oil, etc.) that can be sold at the price p. The price elasticity of demand E is defined as the percentage rate of change of q with respect to p. In terms of derivatives, E = p q dq dp = lim p0 (100q)/q (100p)/p . Acommercial bakery can sell q chocolate cakes per week at price $p, where q = 50p(10 p) for 5
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