A publishing company plans to publish a book. It finds from the sales data of other publishers
Question:
A publishing company plans to publish a book. It finds from the sales data of other publishers of similar books that the demand function for the book can be expressed as Q =
5000 – 5 P. Find out:
(
a) Demand schedule and demand curve,
(
b) Number of books sold when P = `25,
(
c) Price for selling 2500 copies,
(
d) Price for zero sales,
(
e) Point-elasticity of demand at pricè20, and
( f ) Arc elasticity for a fall in price from `25 tò20 and for a rise in price from
`20 tò25.
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