Business Calculus

Q1

Use the given equation, which expresses price p as a function of demand x, to find a function f(p) that expresses demand x as a function of price p. Give the domain of f(p). p =20e -x/18 0Exs 18 x = f(p) =Use The pricedemand equation p+ U.U1x =12l], i] S p512l]. Find all values of p for which demand is elastic. E) The demand is elastic on E. (Type your answer in interval notation.) Use the demand equation to find the revenue function. Graph the revenue function and indicate the regions of inelastic and elastic demand on the graph. x = f(p) = 40(p - 15)- . . . The revenue function is R(p) =If a price-demand equation is solved for p, then price is expressed as p = g(x) and x becomes the independent variable. In this case, it can be shown that the elasticity of demand is given by E(x) = - g(x) xg'(x) . Use the price-demand equation below to find E(x) at the indicated value of x. p = g(x) = 104 -24x, x=256 E(256) =