Question

Demand

Solve the demand function in Exercise 73 for p. Use the result to find dp/dx. Then find the rate of change when p = $10. What is the relationship between this derivative and dx/dp?

Answer 1

Answer: a) p = 1000e(-x)

b) dp/dx = -p

at p= $10 , the rate of change is -10

c) dx/dp = 1/(dp/dx)

The two derivatives are reciprocals of each other.

Question:

Since the function is not given.

The function below is used for this calculation.

x = ln(1000/p)

Explanation:

See attachment.