$\text { Find the third Taylor polynomial for } f ( x ) = \frac { 7 } { x } \text {, expanded about } c = 1 \text {. }$

question 29

Multiple Choice

$\text { Find the third Taylor polynomial for } f ( x ) = \frac { 7 } { x } \text {, expanded about } c = 1 \text {. }$

• A) \(P _ { 3 } ( x ) = 7 - 7 ( x - 1 ) - 14 ( x - 1 ) ^ { 2 } - 7 ( x - 1 ) ^ { 3 }\)
• B) \(P _ { 3 } ( x ) = 7 - 7 ( x - 1 ) + 7 ( x - 1 ) ^ { 2 } - 7 ( x - 1 ) ^ { 3 }\)
• C) \(P _ { 3 } ( x ) = 7 - 7 ( x - 1 ) + 14 ( x - 1 ) ^ { 2 } - 14 ( x - 1 ) ^ { 3 }\)
• D) \(P _ { 3 } ( x ) = 7 - 7 ( x + 1 ) + 7 ( x + 1 ) ^ { 2 } - 7 ( x + 1 ) ^ { 3 }\)
• E) \(P _ { 3 } ( x ) = 7 - 7 ( x - 1 ) - 42 ( x - 1 ) ^ { 2 } - 7 ( x - 1 ) ^ { 3 }\)

Identify the factors influencing price elasticity of demand.

Analyze the impact of changes in consumers' income on the demand for various products.

Assess the economic rationale behind differential pricing strategies based on elasticity of demand.

Examine the role of elasticity in tax policy and its implications for tax revenue.

---

Definitions:

Cultural Environment

The communications, religion, values and ideologies, education, and social structure of a country

Social Organization

The structured arrangement of relationships and roles within a society, contributing to its orderly functioning and cultural practices.

Politics

Politics refers to the activities associated with governance of a country or area, especially the debate among individuals or parties having power.

Expatriates

Employees who are temporarily transferred to work in a country other than their home country.