Question
1) A pair of sunglasses has a demand function of p = 135 0.065q. How many pairs can be sold at $65 and what is
1) A pair of sunglasses has a demand function of p = 135 0.065q. How many pairs can be sold at $65 and what is the elasticity of demand?
2) Two equations for price (p) and demand (q): q = 200 sqrt(175p),p = 125. If the demand is inelastic, what is the value of elasticity of the price?
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An Introduction to Analysis
Authors: William R. Wade
4th edition
132296381, 978-0132296380
