Question
For the demand function q=D(p)=281p, find the following. a) The elasticity b) The elasticity at p=121, stating whether the demand is elastic, inelastic or has
For the demand function
q=D(p)=281p,
find the following.
a) The elasticity
b) The elasticity at
p=121,
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)
2 For the demand function
q=D(x)=100x,
find the following.a) The elasticityb) The elasticity at
x=3,
stating whether the demand is elastic, inelastic, or has unit elasticityc) The value(s) of x for which total revenue is a maximum (assume that x is in dollars)
3.For the demand function
q=D(p)=446p,
find the following.
a) The elasticity
b) The elasticity at
p=87,
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)
4.For the demand function
q=D(p)=700(p+3)3,
find the following.
a) The elasticity
b) The elasticity at
p=6,
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)
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