Evaluate each expression if a = 6, b = 3, and c = 2.
1 answer:
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Answer with Step-by-step explanation:
Since we have given that
q = 896-20p
p = $32
.(A) Calculate the price elasticity of demand
As we know that
(B) The demand is going down with increase in 15 increase in price at that price level, as we know that there is inverse relationship between price and quantity demanded.
(C) Also, calculate the price that gives a maximum weekly revenue.
We first find the first derivative:
So, it becomes,
R=-40<0, so, it will give maximum revenue.
(D) Find this maximum revenue.
Maximum revenue would be
All real numbers.
Step-by-step explanation:
Distributive property: a(b+c)=ab+ac
Expand: 4(a+2)=4a+8
Expand again: 14-2(3-2a)=4a+8
4a+8=4a+8
You subtract by 8 from both sides of an equation.
4a+8-8=4a+8-8
Simplify.
4a=4a
Then, subtract by 4a from both sides of an equation.
4a-4a=4a-4a
Finally, simplify.
4a-4a=0
0=0
True
All real numbers is the final answer.
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