Question: If the demand function for a product is given by p=4400/q+3 ; find the elasticity for this demandfunction when p = $220. Round your answer

If the demand function for a product is given by p=4400/q+3 ; find the elasticity for this demand function when p = $220. Round your answer off to 2 decimal places. Elasticity = E =

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

To find the elasticity of demand for the given demand function well first need to differentiate the ... View full answer

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 Economics Questions!

The demand function for a product is given by p = 4000 ln (x =10), where p is the price per unit in dollars when x units are demanded. (a) Find the rate of change of price with respect to the number...

The demand function for a product is given by p = 3000e-q/3. (a) At what price per unit will the quantity demanded equal 6 units? (b) If the price is $149.40 per unit, how many units will be...

The demand function for a product is given by P = 200 / 2 + 0.1x Where x is the number of units and p is the price in dollars. (a) Graph this demand function for 0 ( x ( 250, with x on the horizontal...

A horizontal jet of water (at 10C) that is 6 cm in diameter and has a velocity of 20 m/s is deflected by the vane as shown. If the vane is moving at a rate of 7 m/s in the x-direction, what...

The 2013 annual report of Gildan Activewear Inc., a Canadian company, contained the following excerpt in the "Independent Auditors' Report of Registered Public Accounting Firm": We also have audited,...

If you are outdoors, the wind may make it feel a lot colder than the thermometer reads. You feel the windchill temperature, which, if the air temperature is 20F, is given in F by W (v) = 48.17 27.2v...

5. List several simple ways in which Ginny Harding can quickly stop the boys from misbehaving.

Widgits-R-Us specializes in building gears that go into large windmills and clocks. The company has had the following sales and production costs for the last four years. Required: 1. Compute...

HW 5 Times-Roman Publishing Company reports the following amounts in its first three years of operation: ($ in thousands) 2021 2022 2023 Subscription revenue recognized (earned) $ 350 $ 360 $ 320...

A model was developed to predict the length of a sentence (the response variable) for a male convicted of assault using the following predictor variables: age (in years), number of prior felony...

Please help. The accounting records of Ayayai Corp., a real estate developer, indicated income before income tax of $836.000 for it's year ended December 31, 2020, and of $547,000 for the year ended...

The production records of Prince Company for the month of June shows the following: Total Manufacturing Cost Variance P 3,840 U Rate Variance 8,710 F Total material cost variance 2,975 U Total Labor...

Based on the facts, what is the primary ethical issue in this case? Who are the stakeholders? What changes could have been made to impact the outcome of this fraud? Research recent developments in...

MDM4U EXAM REVIEW 1. Consider the arrangement of the name TISHAN a. How many arrangements are there in total? b. How many begin with N? c. How many begin with a vowel? 2. Consider forming 7 digit...

A cake maker has determined that the cost of producing wedding cakes is $61.50 per wedding cake plus $16620 per month in fixed costs. The cake maker sells each wedding cake for $200. Step 4 of 4:...

Write a dialogue of what you would say to your sellers when presenting to them your marketing recommendations. 1- Give your recommendations based on maximum market (buyer) reach and appropriate...

15)Which statement is not true When planning the audit related to debt, the auditor should not have expectations as to the nature and magnitude ofany account balance changes because they might bias...

Draw two scatterplots, one for which r = 1 and a second for which r = 21.

Copy and complete the statement. 4/ ft = _2__yd

Graph the inequality on a number line. Tell whether the graph is a segment, a ray or rays, a point, or a line. x 25 or x-2

Decide if the side lengths form a triangle. If so, would the triangle be acute, right, or obtuse? 8, 12, and 4

=+b. What type of variation is measured by calculating the sample standard deviation, s, of the six measurements?

=+its operating range of 250F to 150F. What is the maximum absolute error you would expect in a measured reading of 70F from this thermometer?

=+30. Consult a published reference, weather bureau, or Internet site to determine the operational definition used by weather forecasters when making statements like There will be a 30% chance of...