For the demand function q = D(p) = √363- p, find the following. a) The elasticity b) The elasticity at p = 115, 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 dollars) a) Find the equation for elasticity.

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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For the demand function q = D(p) = √363- p, find the following.
a) The elasticity
b) The elasticity at p = 115, 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 dollars)
a) Find the equation for elasticity.
Transcribed Image Text:For the demand function q = D(p) = √363- p, find the following. a) The elasticity b) The elasticity at p = 115, 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 dollars) a) Find the equation for elasticity.
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