Suppose That the Demand for a Product Depends on the Price

question 190

Multiple Choice

Suppose that the demand for a product depends on the price p according to , , where p is in dollars. Find and explain the meaning of the instantaneous rate of change of demand with respect to price when . ​

• A)-0.32. If price increases by $1, the demand will decrease approximately 0.32 units.
• B)0.32. If price increases by $1, the demand will increase approximately 0.32 units.
• C)-0.64. If price increases by $1, the demand will decrease approximately 0.64 units.
• D)-49.84. If price increases by $1, the demand will increase approximately 49.84 units.
• E)0.64. If price increases by $1, the demand will decrease approximately 0.64 units.

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