Prod 17	C = f(x)
Output [x]	Cost(17)
100	145000
200	225000
400	245000
600	315000
800	350000
1000	370000
1200	380000

Prod 17	p = f(x)		Prod 17	x = f(p)
Demand [x]	Price [p]		Price [p]	Demand [x]
200	800		800	200
400	900		900	400
600	500		500	600
1200	600		600	1200
1600	150		150	1600
2000	50		50	2000

3. Develop the mathematical expression for its Price Elasticity of

Demand coefficient .

4. A products elasticitycoefficient, calculated at a specific unit

price p, may be interpreted to indicate the percent change in product

Demand x in one direction that is associated with a 1%change in

unit price p in the opposite direction. Calculate the coefficientof

elasticityfor the present product if currently p= $600.

5. Findthe price p at which unit elasticityoccurs for this product.