Question

Asked Mar 24, 2019

110 views

Suppose that a price p and demand x are related through the price-demand equation

40p+x=5,000.

Calculate p such that

E(p)=1

where E(p) is the elasticity of demand. Give your answer as a decimal to one decimal place

Step 1

We have given,

Price-demand equation: 40p + x = 5000

We need to find elasticity of demand

Step 2

So, we differentiate Price-demand equation with respect to x

We get,

Step 3

Also, We can plug x = 5000 – 40p

Now, w...

Tagged in

Find answers to questions asked by student like you

Show more Q&A

Q: Evaluate the following integral as written. Please refer to attached image.

A: It's aquestion of double integral. We will first evalaute the integral with respect to x, put the l...

Q: For the region bounded by y 3x, the x-axis, and x 1, determine which of the following is greater: th...

A: The curves are given by,

Q: What is the position at time t of a car that is accelerating at a rate of 5 meters per second square...

A: To determine the position of the car from the given data. (note that s =20 when t=2, not as given)

Q: Given f(x) = x^3 + 3x - 2 , find y = (f ^-1 (x))' at the point (2,1)

A: Click to see the answer

Q: approximate the area under the graph of f(x) and above using the x-axis using the following methods ...

A: Given infromation:The given function is f(x)=2/x from x=1 from x=9.

Q: G(x) = ∫^1vx xt2 dt (1 is the number on top of the integral sign, x on the bottom)

A: Given integral is:Solving the indefinite integral: The antiderivative of a function of the form xn i...

Q: Use the shell method to find the volume of the solid generated by revolving the region bounded by th...

A: (d) First draw the graph of y = x + 6 and y = x2.Find the intersection points as,

Q: Consider an object moving along a line given the velocity v. Assume t is time measured in seconds an...

A: To find the direction we have to graph the function v(t)=2t^2-16t+24;[0,7]And then we check the inte...

Q: Please help me about this.

A: The radius of convergence is 4 which can be computed as follows.