<span>a) Differentiate both sides of lnq − 3lnp + 0.003p=7 with respect to p, keeping in mind that q is a function of p and so using the Chain Rule to differentiate any functions of q:
(1/q)(dq/dp) − 3/p + 0.003 = 0
dq/dp = (3/p − 0.003)q.
So E(p) = dq/dp (p/q) = (3/p − 0.003)(q)(p/q) = (3/p − 0.003)p = 3 − 0.003p.
b) The revenue is pq.
Note that (d/dp) of pq = q + p dq/dp = q[1 + dq/dp (p/q)] = q(1 + E(p)), which is zero when E(p) = −1. Therefore, to maximize revenue, set E(p) = −1:
3 − 0.003p = −1
0.003p = 4
p = 4/0.003 = 4000/3 = 1333.33</span>
Answer:
4/3
Step-by-step explanation:
9-1/8-2=
8/6=4/3
x = 9
Since M is the midpoint of XY:
XM = MY
XM = 2x + 11
MY = 5x - 16
2x + 11 = 5x - 16
5x - 2x = 11 + 16
3x = 27
x = 27/3
x = 8
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Answer:
The price of the cake is $24 and the price of the Pie is $15
Step-by-step explanation:
Given
<em>Represent price of Cake with C and Price of Pie with P</em>

Cakes sold = 8
Pies sold = 14

Required
Determine C and P
To represent the cakes and pies sold, we have the following expression

Substitute 9 + P for C

Open the bracket

Collect Like Terms


Divide both sides by 22


Recall that



<em>Hence, the price of the cake is $24 and the price of the Pie is $15</em>