the clasticity of abimand for as given byproictE= 3 (190-X)find the demand fonction p=DcK) if Dcas)=175Write +e exact ansuer, b not bend

The elasticity of demand is calculated by, ∈=dXdPPX Now to calculate the demand function P=D(X), we…

Answered: The clasticity prehet of demand for a I…

The clasticity prehet of demand for a I E: 3(190-X) s given by find the demand fonction p=DcK) if Deas)=175 Write +e exact ansuer, b not bend

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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the clasticity of abimand for a
s given by
proict
E= 3 (190-X)
find the demand fonction p=DcK) if Dcas)=175
Write +e exact ansuer, b not bend

Expert Solution

Step 1

The elasticity of demand is calculated by,

$\in = \frac{d X}{d P} \frac{P}{X}$

Now to calculate the demand function $P = D (X)$ , we equate the formula of elasticity to the given elasticity function, separate $P & X$ and then integrate.

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