In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand function 2p + 3q = 168 at the price p = 12. -3/8 (b) How will a price increase affect 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 decrease the total revenue. Since the demand is unitary, there will be no change in the revenue with a price increase. Since the demand is inelastic, an increase in price will decrease the total revenue. Since the demand is elastic, an increase in price will increase the total revenue.

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Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.