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Question: according to economic theory the demand x for a quantity...

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According to economic theory, the demand x for a quantity in a free market decreases as the price p increases (see the figure) Suppose that the number x of DVD players people are willing to buy per week from a retail chain at a price of Sp is given by 8,000 x0.1p+1 Answer parts (A) (B), and (C) 10 sps70 4000- 8.000 0.1p+1 2 2000 40 Price (dollars) 80
This Test: 100 pts possible (A) Find dx dp dx dp (B) Find the demand and the instantaneous rate of change of demand with respect to price when the price is $40. Write a brief interpretation of these results. The demand is x : □ when the price is S40. The instantaneous rate of change of demand with respect to price is when the price is $40 Write a brief interpretation of these results At a price level of 540, the demand is DVD players r week and domandis the rate of (C) Use the results from part (B) to estimate the demand if the price is increased to $41 The demand is approximately if the price is increased to $41
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