A Computer Is Purchased for $4100 $\mathrm { V } ( \mathrm { t } ) = 4100 ( 0.75 ) ^ { \mathrm { t } }$

question 56

Multiple Choice

A computer is purchased for $4100. Its value each year is about 75% of the value the preceding year. Its value, in dollars, after t years is given by the exponential function $\mathrm { V } ( \mathrm { t } ) = 4100 ( 0.75 ) ^ { \mathrm { t } }$ Find the value of the computer after
2 years.

• A) $1297.27
• B) $1729.69
• C) $2306.25
• D) $6150.00

Differentiate between elastic, inelastic, unit-elastic, perfectly inelastic, and perfectly elastic demand.

Determine the relationship between price movements and total revenue changes.

Interpret total revenue graphs and diagrams in relation to price elasticity.

Apply the midpoint formula to calculate the coefficient of price elasticity of demand.