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Step-by-step explanation:
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%
Find the domain by finding where the function is defined. The range is the set of values that correspond with the domain.
Domain: ( − ∞ , ∞ ) , { x | x ∈ R }
Range: ( − ∞ , 16 ] , { y | y ≤ 16 }
Answer:
2 and 3
Step-by-step explanation:
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