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Suppose that the price p of a product and its demand x are related through the price-demand equation40p+x=5,000.What is the region for which the demand function is elastic? Select the correct answer below: 62.5<p<125. p>62.5 0<p<62.5 p>125.

Question

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

40p+x=5,000.
What is the region for which the demand function is elastic?

 

Select the correct answer below:

 

62.5<p<125.

 

p>62.5

 

0<p<62.5

 

p>125.

check_circleAnswer
Step 1

The price –demand equation is

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Step 2

When the price p=0, the demand x=5000 and when the demand x=0, the price becomes

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Step 3

The graph can be o...

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Calculus

Derivative

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