The demand function for a particular pair of sunglasses is p = 155 – 0.045q. %3D (a) If the sunglasses are priced at $65, how many pairs can be sold? (Round your answer to the nearest integer.) pairs (b) Compute the elasticity of demand when the sunglasses are priced at $65. (Round your answer to two decimal places.) At this price, is the demand elastic or inelastic? The demand is elastic. The demand is inelastic.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section: Chapter Questions
Problem 18T
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The demand function for a particular pair of sunglasses is
p = 155 – 0.045q.
%3D
(a) If the sunglasses are priced at $65, how many pairs can be sold? (Round your answer to the nearest integer.)
pairs
(b) Compute the elasticity of demand when the sunglasses are priced at $65. (Round your answer to two decimal places.)
At this price, is the demand elastic or inelastic?
The demand is elastic.
The demand is inelastic.
Transcribed Image Text:The demand function for a particular pair of sunglasses is p = 155 – 0.045q. %3D (a) If the sunglasses are priced at $65, how many pairs can be sold? (Round your answer to the nearest integer.) pairs (b) Compute the elasticity of demand when the sunglasses are priced at $65. (Round your answer to two decimal places.) At this price, is the demand elastic or inelastic? The demand is elastic. The demand is inelastic.
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