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mathkid3
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The demand function for a product is given by p = 800 -4x, 0 <= X <= 200, where p is the price (in dollars) and x is the number of units.
(a) Determine when the demand is elastic, inelastic and of unit elasticity.
(b) Use the result of part (a) to describe the behavior of the revenue function.(Angry)
(a) Determine when the demand is elastic, inelastic and of unit elasticity.
(b) Use the result of part (a) to describe the behavior of the revenue function.(Angry)