100 For the demand function q = D(x) = find the following. X a) The elasticity b) The elasticity at x = 3, stating whether the demand is elastic, inelastic, or has unit elasticity c) The value(s) of x for which total revenue is a maximum (assume that x is in dollars) a) Find the equation for elasticity E(X)= b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic, or has unit elasticity. E(3)= (Simplify your answer. Type an integer or a fraction.) Is the demand at x = 3 elastic, inelastic, or does it have unit elasticity? OA. unit elasticity OB. elastic OC. inelastic c) Find the value(s) of x for which total revenue is a maximum (assume that x is in dollars) OA. S (Round to the nearest cent as needed Use a comma to separate answers as needed) OB. The total revenue is independent of x

100 For the demand function q = D(x) = find the following. X a) The elasticity b) The elasticity at x = 3, stating whether the demand is elastic, inelastic, or has unit elasticity c) The value(s) of x for which total revenue is a maximum (assume that x is in dollars) a) Find the equation for elasticity E(X)= b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic, or has unit elasticity. E(3)= (Simplify your answer. Type an integer or a fraction.) Is the demand at x = 3 elastic, inelastic, or does it have unit elasticity? OA. unit elasticity OB. elastic OC. inelastic c) Find the value(s) of x for which total revenue is a maximum (assume that x is in dollars) OA. S (Round to the nearest cent as needed Use a comma to separate answers as needed) OB. The total revenue is independent of x

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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