15.5 (0) The demand function for drangles is q(p) = (p+ 1)-2. (a) What is the price elasticity of demand at price p? (b) At what price is the price elasticity of demand for drangles equal to -1?. (c) Write an expression for total revenue from the sale of drangles as a function of their price. the revenue-maximizing price. Don't forget to check the second-order Use calculus to find condition.. (d) Suppose that the demand function for drangles takes the more general form q(p) = (p+a)-b where a > 0 and b> 1. Calculate an expression for the price elasticity of demand at price p. At what price is the price elasticity of demand equal to -1?_

15.5 (0) The demand function for drangles is q(p) = (p+ 1)-2. (a) What is the price elasticity of demand at price p? (b) At what price is the price elasticity of demand for drangles equal to -1?. (c) Write an expression for total revenue from the sale of drangles as a function of their price. the revenue-maximizing price. Don't forget to check the second-order Use calculus to find condition.. (d) Suppose that the demand function for drangles takes the more general form q(p) = (p+a)-b where a > 0 and b> 1. Calculate an expression for the price elasticity of demand at price p. At what price is the price elasticity of demand equal to -1?_

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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