3 years ago

3. Five less than a product of 3 and a number is 40.

Mathematics

2 answers:

Vesnalui [34]3 years ago

6 0

The equation would be: 3x-5=40

Ad libitum [116K]3 years ago

4 0

The answer is 3x-5=40

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If the Price Elasticity of Demand for a product is -.8, and the product currently sells for $100 per unit, how much will demand

egoroff_w [7]

Answer: Percentage change in quantity would decrease by 12.5%.

Step-by-step explanation:

Since we have given that

Price elasticity of demand = -0.8

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After change, price of each unit becomes = $110

% change in quantity would be

$\dfrac{New-old}{old}\times 100=\dfrac{110-100}{100}\times 100=10\%$

As we know the relation between price, quantity and elasticity.

$e_D=\dfrac{\text{\% change in quantity}}{\text{\%change in price}}\\\\-0.8=\dfrac{10\%}{x}\\\\x=\dfrac{10}{-0.8}\\\\x=-12.5\%$

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