The Quantity Demanded Each Week X (In Units of a Hundred)

question 72

Essay

The quantity demanded each week x (in units of a hundred) of the Mikado miniature camera is related to the unit price p (in dollars) by the demand equation .
Is the demand elastic or inelastic when ?
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Is the demand elastic or inelastic when ?
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When is demand unitary? If it is necessary round the answer to two decimal places.
Hint: Solve for p. __________
If the unit price is lowered slightly from $17, will the revenue increase or decrease?
__________
If the unit price is increased slightly from $22, will the revenue increase or decrease?
__________

Understand the fundamental concepts of assignments and delegations in contract law.

Recognize the rights and obligations of third parties in contract assignments.

Identify the requirements and limitations of oral and written assignments.

Comprehend the role of consideration in the effectiveness of an assignment.

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