For the demand function x=D(p)=50-4p : (a) The elasticity is E(p)= (b) When p=5 , the elasticity E(5)= the demand is ---Select--- v (c) The price at which the total revenue is at a maximum is p=

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 21SQ: If bus travel is an inferior good, its income elasticity of demand is a. strictly greater than 1. b....
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For the demand function x=D(p)=50-4p:
(a) The elasticity is E(p)=
(b) When p=5, the elasticity E(5)=
the demand is ---Select-- v
(c) The price at which the total revenue is at a maximum is p=
Transcribed Image Text:For the demand function x=D(p)=50-4p: (a) The elasticity is E(p)= (b) When p=5, the elasticity E(5)= the demand is ---Select-- v (c) The price at which the total revenue is at a maximum is p=
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