For the demand function q = D(p) = 314-p, find the following. K a) The elasticity b) The elasticity at p=93, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
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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ment Calc - Spr '23
For the demand function q = D(p) = 314-p, find the following.
K
a) The elasticity
b) The elasticity at p = 93, stating whether the demand is elastic, inelastic or has unit elasticity
c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars)
a) Find the equation for elasticity.
E(p) =
Transcribed Image Text:ment Calc - Spr '23 For the demand function q = D(p) = 314-p, find the following. K a) The elasticity b) The elasticity at p = 93, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars) a) Find the equation for elasticity. E(p) =
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