Suppose the demand function for a product is given by p = 1/3 ln(5000-q/q+1)
where p is in hundreds of dollars and q is the number of tons.
(a)
What is the elasticity of demand when the quantity demanded is 5 tons and the price is $224? (Round your answer to one decimal place.)

Jackie purchased 3 bottles of water and 2 cups of coffee for the family for $7.35. ryan bought 4 bottles of water and 1 cup of coffee for his family for 7.15. how much does each bottle of water cost? how much does each cup of coffee cost?

Ricky takes out a $31,800 student loan to pay his expenses while he is in college. after graduation, he will begin making payments of $190.66 per month for the next 30 years to pay off the loan. how much more will ricky end up paying for the loan than the original value of $31,800? ricky will end up paying $ more than he borrowed to pay off the loan.

Over the course of the school year, you keep track of how much snow falls on a given day and whether it was a snow day. your data indicates that of twenty-one days with less than three inches of snow, five were snow days, while of the eight days with more than three inches of snow, six were snow days. if all you know about a day is that it is snowing, what is the probability that it will be a snow day?