Question
For the demand functionq=D(x)=5002x,x=50 q=D(x)=5002x,x=50find the following; 1. The elasticity 2. The elasticity at the given price, stating whether the demand is elastic or inelastic.
For the demand functionq=D(x)=5002x,x=50
q=D(x)=5002x,x=50find the following;
1. The elasticity
2. The elasticity at the given price, stating whether the demand is elastic or inelastic.
3. The value of x for which total revenue is a maximum.
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Essentials Of Discrete Mathematics
Authors: David J Hunter
2nd Edition
1449604447, 9781449604448
