Find the Slope of the Tangent Line to the Graph $g ( t ) = \frac { 8 } { t ^ { 3 } } , ( 1.5,57 )$

question 7

Multiple Choice

Find the slope of the tangent line to the graph of the given function at the indicated point. $g ( t ) = \frac { 8 } { t ^ { 3 } } , ( 1.5,57 )$

• A) \(g ^ { \prime } ( 1.5 ) = - 108\)
• B) \(g ^ { \prime } ( 1.5 ) = - 36\)
• C) \(g ^ { \prime } ( 1.5 ) = 54\)
• D) \(g ^ { \prime } ( 1.5 ) = - 27\)
• E) \(g ^ { \prime } ( 1.5 ) = - 54\)

Describe the implications of elasticity on revenue for different types of goods.

Understand the role of substitutes and the broadness of market definition on elasticity.

Appreciate the theoretical underpinnings of supply and demand through the lens of elasticity.

Understand the concept of price elasticity of demand and how to calculate it.

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Definitions:

Axis

A reference line drawn in a graph or chart that defines a scale of measurement for data.

Frequency Distributions

A statistical representation, often in the form of a table or graph, showing how often each different value occurs in a set of data.

Class Width

The difference between the upper and lower boundaries of any class (category) in a frequency distribution.

Data Set

A collection of related sets of information that is composed of separate elements but can be manipulated as a unit by a computer.