6:357A webassign.netIn this problem, p is in dollars and q is the number of units.(a) Find the elasticity of the demand function p + 2p + q = 100 at p = 9.(b) How will a price increase affect total revenue?O Since the demand is unitary, there will be no change in the revenuewith a price increase.O Since the demand is inelastic, an increase in price will decrease thetotal revenue.O Since the demand is elastic, an increase in price will decrease thetotal revenue.Since the demand is inelastic, an increase in price will increase thetotal revenue.Since the demand is elastic, an increase in price will increase thetotal revenue.Need Help?Read it

p2 + 2p + q = 100 q = 100 - p2 - p When p = 9, q = 100 - 81 - 9 = 10 Elasticity (Ed) = (dq/dp) x…

Answered: Find the elasticity

Business

Economics

Find the elasticity

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 6SQP

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Question

6:357
A webassign.net
In this problem, p is in dollars and q is the number of units.
(a) Find the elasticity of the demand function p + 2p + q = 100 at p = 9.
(b) How will a price increase affect total revenue?
O Since the demand is unitary, there will be no change in the revenue
with a price increase.
O Since the demand is inelastic, an increase in price will decrease the
total revenue.
O Since the demand is elastic, an increase in price will decrease the
total revenue.
Since the demand is inelastic, an increase in price will increase the
total revenue.
Since the demand is elastic, an increase in price will increase the
total revenue.
Need Help?
Read it

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