Replace a with 4 and b with -12
3(4) + -12/4 + 4(4) = 16+-12/4+4*4 = 29
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%
Ill teach you how to do some of these things so you won't be having to use this site
If what you mean is what does x equal then X=30
