Answer:
Option D)Neither solution is extraneous.
Step-by-step explanation:
we have
we know that
two possible solutions are x=-7 and x=1
<u><em>Verify each solution</em></u>
Substitute each value of x in the expression above and interpret the results
1) For x=-7
----> is true
therefore
x=-7 is not a an extraneous solution
2) For x=1
----> is true
therefore
x=1 is not a an extraneous solution
therefore
Neither solution is extraneous
Answer:
0.18
Step-by-step explanation:
Given that:
P₁ = $10, P₂ = $20
From the tables Q₁ = 900, Q₂ = 800
Using midpoint method:
Percentage change in quantity =
Percentage change in price =
Price of elastic demand = Percentage change in quantity/ Percentage change in price = -11.76% / 66.67% = 0.18
The Price of elastic demand is positive because we took the absolute value and elasticity are always positive
Therefore since Price of elastic demand < 1, the demand is inelastic in this interval.
This means that, along the demand curve between $10 to $20, if the price changes by 1%, the quantity demanded will change by 0.18%. A change in the price will result in a smaller percentage change in the quantity demanded. For example, a 10% increase in the price will result in only a 1.8% decrease in quantity demanded and a 10% decrease in the price will result in only a 1.8% increase in the quantity demanded
