For the demand function q = D(p) = /276 – p, find the following. a) The elasticity b) The elasticity at p = 90, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dllars) a) Find the equation for elasticity. E(p) = V276 - p b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. 15-/186 31 E(90) = (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? unit elasticity elastic inelastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars). $ 16.12 (Round to the nearest cent. Use a comma to separate answers as needed.)
For the demand function q = D(p) = /276 – p, find the following. a) The elasticity b) The elasticity at p = 90, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dllars) a) Find the equation for elasticity. E(p) = V276 - p b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. 15-/186 31 E(90) = (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? unit elasticity elastic inelastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars). $ 16.12 (Round to the nearest cent. Use a comma to separate answers as needed.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:For the demand function q = D(p) = /276 – p, find the following.
a) The elasticity
b) The elasticity at p = 90, stating whether the demand is elastic, inelastic or has unit elasticity
c) The value(s) of p for which total revenue is a maximum (assume that p is in dllars)
a) Find the equation for elasticity.
E(p) =
V276 - p
b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity.
15,/186
E(90) =
(Simplify your answer. Type an integer or a fraction.)
31
Is the demand elastic, inelastic, or does it have unit elasticity?
unit elasticity
elastic
inelastic
c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars).
$ 16.12
(Round to the nearest cent. Use a comma to separate answers as needed.)
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