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
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Chapter1: Making Economics Decisions
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100
For the demand function q = D(x) =
X
find the following.
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. $
(Round to the nearest cent as needed Use a comma to separate answers as needed)
OB. The total revenue is independent of x
Transcribed Image Text:100 For the demand function q = D(x) = X find the following. 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. $ (Round to the nearest cent as needed Use a comma to separate answers as needed) OB. The total revenue is independent of x
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