urces Implicit Differentiaion Related Rates Course Packet on computing elasticity of demand using implicit differentiation The

Question

urces Implicit Differentiaion Related Rates Course Packet on computing elasticity of demand using implicit differentiation The demand function for a certain brand of compact discs is given by p 4x 2x 45 where p is the wholesale unit price in dollars and x is the quantity demanded each week measured in units of a thousand a Compute the price p when x 3 Price p 3 b Use implicit differentiation to compute the rate of change of demand with respect to price p when x 3 Do not round your answer Rate of change of demand x dollars 26 thousands of units per dollar c Compute the elasticity of demand when x 3 Do not round your answer Elasticity of Demand 26

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