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solve a and b please! a) Find the elasticity of the demand function q = 15000...

solve a and b please!

a) Find the elasticity of the demand function q = 15000 p 2 + 50 when the price is p = 10 dollars.

b) If the price increases, will the revenue increase or decrease? Explain how you concluded this from your elasticity value.

Math   Calculus   
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Answer #1

we have

the elasticity of the demand is,

put p = 10

here E > 1,

hence the demand is elastic, an increase in price decrease revenue.

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