For the demand function P = 221 √Q+3 a) Find the value of Q when P = 17 b) Find the price elasticity of demand at P = 17 dP Hint: It may be easier to find first then use the fact that dQ dQ dP = -1 + dP

For the demand function P = 221 √Q+3 a) Find the value of Q when P = 17 b) Find the price elasticity of demand at P = 17 dP Hint: It may be easier to find first then use the fact that dQ dQ dP = -1 + dP

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter5: Price Elasticity Of Demand And Supply

Section: Chapter Questions

Problem 4SQP

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Question

Please help me solve this problem? Thank you!

For the demand function P
=
221
√√Q+3
a) Find the value of Q when P = 17
b) Find the price elasticity of demand at P = 17
dp
Hint: It may be easier to find first then use the fact that
dQ
dQ
dP
= -1 ÷
dP
|
dQ

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