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14 May, 16:30

Suppose the demand for Digital Video Recorders (DVRs) is given by Q=250 -.25P + 4Pc, where Q is the quantity of DVRs demanded (in 1000s), P is the price of a DVR, and Pc is the price of cable television. How much does Q change if the price of cable changes slightly (i. e. the partial derivative of demand with respect to Pc?

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  1. 14 May, 16:48
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    Answer: 4000

    Explanation:

    Q=250 -.25P + 4Pc, where Q is the quantity of DVR

    We want to find the partial derivative of Q with respect to Pc

    (dQ/dPc, partial) = 4

    There is a change of 4 DVR added. Since the Q is measured in Thousands.

    ∆Q = 4000

    Differentiation Q with respect to Pc gives other terms to be zero except wrt Pc.
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