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EFFECT OF LUXURY TAX ON CONSUMPTION Government economists of a developing country determined that the purchase of imported perfume is related to a proposed “luxury tax” by the formula
where N(x) measures the percentage of normal consumption of perfume when a “luxury tax” of x% is imposed on it. Find the rate of change of N(x) for taxes of 10%, 100%, and 150%.
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Chapter 3 Solutions
Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach
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