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Advanced Engineering Mathematics
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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For the demand function q =D(p)=√340- p, find the following. a) The elasticity b) The elasticity at p= 82, 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. E(p) = b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. E(82)= (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? Oinelastic O elastic O unit elasticity c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars).
Transcribed Image Text:For the demand function q =D(p)=√340- p, find the following. a) The elasticity b) The elasticity at p= 82, 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. E(p) = b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity. E(82)= (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? Oinelastic O elastic O unit elasticity c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars).
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