If a pricedemand equation is solved for p, then price is expressed as p = g(x) and
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If a price–demand equation is solved for p, then price is expressed as p = g(x) and x becomes the independent variable. In this case, it can be shown that the elasticity of demand is given by
In Problem use the price–demand equation to find E(x) at the indicated value of x.
p = g(x) = 50 - 2√x, x = 400
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College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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