The demand function for a certain metal is q = 100 - 2p, where p is the price per pound and q is the quantity demanded (in millions of pounds). (a) What quantity can be sold at $30 per pound? (b)...


The demand function for a certain metal is q = 100 - 2p, where p is the price per pound and q is the quantity demanded (in millions of pounds). (a) What quantity can be sold at $30 per pound? (b) Determine the function E( p). (c) Determine and interpret the elasticity of demand at p = 30. (d) Determine and interpret the elasticity of demand at p = 20.



Jun 10, 2022
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