Mathematics, 19.08.2020 16:01 robertss403
For the demand function q D(p) = (437-p)^1/2, find the following. a) The elasticity b) The elasticity at p = 114, 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) a) Find the equation for elasticity. E(p) = .b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic or has unit elasticity E(114) = (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? a. elastic b. inelastic c. unit elasticity c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars).
Answers: 1
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For the demand function q D(p) = (437-p)^1/2, find the following. a) The elasticity b) The elasticit...
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