If the coefficient of demand for the SUV is 0.75 this means that it has a relatively inelastic demand since it is less than. In other words, there is only a little alteration in demand when prices change. So when the price of SUV rise by 15%, and it has a coefficient of 0.75, we can anticipate only 11.25% decrease in its demand. This is for the reason that the SUVs do not have many substitutes for it. So to solve: (x/15%) = 0.75 Then simply solve for x: x = (0.75)(0.15) = 11.25%
where the sign depends on the location of the terminal side of the angle. Since the terminal side lies in the fourth quadrant, that means the cosine of the angle is positive, so
