2) Elasticity: If a demand curve is given by y = 50 –.02x where x is the price in dollars, and y is the sales of Really Big TVs, Recall E =**y' y a) Find the elasticity when x= $1100 and say if this is Elastic or Inelastic (cirele one) b) Find the elasticity when x = $1400 and say if this is Elastic or Inelastic (circle one) c) find the price for unit elasticity: d) What can we say about our revenue if we charge the price in e) for the Really Big TV?
2) Elasticity: If a demand curve is given by y = 50 –.02x where x is the price in dollars, and y is the sales of Really Big TVs, Recall E =**y' y a) Find the elasticity when x= $1100 and say if this is Elastic or Inelastic (cirele one) b) Find the elasticity when x = $1400 and say if this is Elastic or Inelastic (circle one) c) find the price for unit elasticity: d) What can we say about our revenue if we charge the price in e) for the Really Big TV?
Chapter3: Functions
Section3.3: Rates Of Change And Behavior Of Graphs
Problem 3SE: How are the absolute maximum and minimum similar to and different from the local extrema?
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Transcribed Image Text:2) Elasticity: If a demand curve is given by y = 50 -.02x where x is the price in dollars,
and y is the sales of Really Big TVs,
- x* y'
Recall E
y
a) Find the elasticity when x= $1100 and say if this is Elastic or Inelastic (cirele one)
b) Find the elasticity when x = $1400 and say if this is Elastic or Inelastic (cirele one)
c) find the price for unit elasticity:
d) What can we say about our revenue if we charge the price in e) for the Really Big TV?
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