Explanation Given information: The elasticity of demand satisfies E < 1 . Proof: We know that d R d p = d ( q p ) d p = q + p d q d p = q ( 1 + p q ⋅ d q d p )

6th Edition

ISBN: 9781119267874

Author: Hughes-Hallett

Publisher: WILEY

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Chapter 4.6, Problem 27P

To determine

To prove:

When elasticity of demand satisfies E<1, then the derivative of revenue with respect to prices will satisfy dR/dp>0.

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Chapter 4.6, Problem 26P

Chapter 4.6, Problem 28P

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To prove: When elasticity of demand satisfies E < 1 , then the derivative of revenue with respect to prices will satisfy d R / d p > 0 .

Solution Summary: The author proves that when elasticity of demand satisfies E1, the derivative of revenue with respect to prices will satisfy dR/dp>0.

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To prove:

When elasticity of demand satisfies E<1, then the derivative of revenue with respect to prices will satisfy dR/dp>0.

Want to see the full answer?

Chapter 4 Solutions

To prove: When elasticity of demand satisfies E &lt; 1 , then the derivative of revenue with respect to prices will satisfy d R / d p &gt; 0 .

Solution Summary: The author proves that when elasticity of demand satisfies E1, the derivative of revenue with respect to prices will satisfy dR/dp>0.

Concept explainers

Videos

To prove: When elasticity of demand satisfies E<1, then the derivative of revenue with respect to prices will satisfy dR/dp>0.

Want to see the full answer?

Chapter 4 Solutions

To prove: When elasticity of demand satisfies E < 1 , then the derivative of revenue with respect to prices will satisfy d R / d p > 0 .

To prove:

When elasticity of demand satisfies E<1, then the derivative of revenue with respect to prices will satisfy dR/dp>0.