Question: The demand function for drangles is q ( p ) = ( p + 1 ) - 2 . ( a ) What is the
The demand function for drangles is
a What is the price elasticity of demand at price
b At what price is the price elasticity of demand for drangles equal to
c Write an expression for total revenue from the sale of drangles as a function of their price. Use calculius to find the reventemaximizing price, Don't forget to check the secondorder condition.
d Suppose that the demand function for drangles takes the more general form where and Calculate an expression for the price elasticity of demand at price At what price is the price elasticity of demad equal to
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