Question

For the demand function q equals Upper D left parenthesis p right parenthesis equals 352 minus...

For the demand function

q equals Upper D left parenthesis p right parenthesis equals 352 minus pq=D(p)=352−p​,

find the following.

​a) The elasticity

​b) The elasticity at

pequals=118118​,

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)

Math   Calculus   
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Homework Answers

Answer #1

a)

we have

the elasticity of the demand is,

b)

put p = 118

here E < 1,

the demand is inelastic.

c)

E = 1 for the maximum revenue,

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