Repeat Problem 37 for the price - demand equation
0.025x + p = 50
Problem 37
Given the price-demand equation
0.02x + p = 60
(A) Express the demand A as a function of the price p.
(B) Express the revenue R as a function of the price p.
(C) Find the elasticity of demand, E(p).
(D) For which values of p is demand elastic? Inelastic?
(E) For which values of p is revenue increasing? Decreasing?
(F) If p = $10 and the price is decreased, will revenue in-crease or decrease?
(G) If p = $40 and the price is decreased, will revenue in-crease or decrease?