Question: I need only answer q1 For the demand function q = D(p) =366 - p, find the following. a) The elasticity b) The elasticity at

 I need only answerq1 For the demand function q = D(p)=366 - p, find the following. a) The elasticity b) The elasticityat p = 102, stating whether the demand is elastic, inelastic or

I need only answer

q1

has unit elasticity c) The value(s) of p for which total revenueis a maximum (assume that p is in dollars) a) Find theequation for elasticity. E(p) = b) Find the elasticity at the given

For the demand function q = D(p) =366 - p, find the following. a) The elasticity b) The elasticity at p = 102, 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(102) = (Simplify your answer. Type an integer or a fraction.) Is the demand elastic, inelastic, or does it have unit elasticity? O unit elasticity O inelastic O elastic c) Find the value(s) of p for which total revenue is a maximum (assume that p is in dollars). $ 7 (Round to the nearest cent. Use a comma to separate answers as needed.)600 For the demand function q = D(x) = - x . find the following. a) The elasticity b) The elasticity at x = 1, stating whether the demand is elastic, inelastic, or has unit elasticity c) The value(s) of x for which total revenue is a maximum (assume that x is in dollars) a) Find the equation for elasticity. E(x) = b) Find the elasticity at the given price, stating whether the demand is elastic, inelastic, or has unit elasticity. E(1) = (Simplify your answer. Type an integer or a fraction.) Is the demand at x = 1 elastic, inelastic, or does it have unit elasticity? O A. unit elasticity O B. elastic O C. inelastic c) Find the value(s) of x for which total revenue is a maximum (assume that x is in dollars). OA. $ (Round to the nearest cent as needed. Use a comma to separate answers as needed.) O B. The total revenue is independent of x.For the demand function q = D(p) =

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!