Find the Rate of Change of X with Respect to P

question 74

Multiple Choice

Find the rate of change of x with respect to p. $$p = \frac { 2 } { 0.00001 x ^ { 3 } + 0.1 x } x \geq 0$$

• A) \(- \frac { 2 } { p ^ { 2 } \left( 0.00003 x ^ { 2 } + 0.1 \right) }\)
• B) \(- \frac { 2 } { p \left( 0.00003 x ^ { 2 } + 0.1 \right) }\)
• C) \(- \frac { 2 } { p ^ { 2 } x \left( 0.00003 x ^ { 2 } + 0.1 \right) }\)
• D) \(- \frac { 2 } { p x \left( 0.00003 x ^ { 2 } + 0.1 \right) }\)
• E) \(- \frac { 2 x } { p ^ { 2 } \left( 0.00003 x ^ { 2 } + 0.1 \right) }\)

Understand concepts like dominant strategy, Nash equilibrium, and their occurrence in various strategic settings.

Analyze strategic moves and counter-moves in sequential games.

Understand the effects of advertising and market competition on strategic decision-making in oligopolies.

Identify the differences between binding and persuasive authority.

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Definitions:

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies as output quantity changes.

Price Effect

The change in the quantity demanded of a good or service caused by a change in its price.

Deadweight Loss

The loss of economic efficiency that occurs when the equitable market outcome is not achieved, often due to taxes, subsidies, or artificially imposed prices like price ceilings or floors.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, free entry and exit, and perfect information that leads to firms being price takers.