Elasticity of Demand for Ink-Jet Cartridges
The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand.
p = −0.07x2 − 0.7x + 6
Compute the elasticity of demand when x = 5. (Round your answer to two decimal places.)
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