BuyFindarrow_forward

Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042

Solutions

Chapter
Section
BuyFindarrow_forward

Mathematical Applications for the ...

11th Edition
Ronald J. Harshbarger + 1 other
ISBN: 9781305108042
Textbook Problem

In Problems 1 -8, p is in dollars and q is the number of units.

Suppose that the demand for a product is given by   p q   +   p   = 5000.

(a) Find the elasticity when p = $50 and q = 99.

(b) Tell what type of elasticity this is: unitary, elastic, or inelastic.

(c) How would revenue be affected by a price increase?

(a)

To determine

To calculate: The elasticity of demand function pq+p=5000 at p=$50 and q=99.

Explanation

Given Information:

The provided function is pq+p=5000 when p=$50 and q=99.

Formula Used:

As per the product rule, if two functions are given in the form f(x).g(x), then the derivative is given as:

ddx(f.g)=f.dgdx+g.dfdx

If p=f(q) is the demand for the q units and price p, then at the points (qA,pA), then,

Elasticity of demand= η=pq.dqdp

Calculation:

The provided function is pq+p=5000,

Partially differentiate on both the sides with respect to p,

q

(b)

To determine

The type of elasticity this is: unitary, elastic or inelastic.

(c)

To determine

How will a price increase affect the total revenue.

Still sussing out bartleby?

Check out a sample textbook solution.

See a sample solution

The Solution to Your Study Problems

Bartleby provides explanations to thousands of textbook problems written by our experts, many with advanced degrees!

Get Started

Chapter 11 Solutions

Show all chapter solutions add
Sect-11.1 P-7ESect-11.1 P-8ESect-11.1 P-9ESect-11.1 P-10ESect-11.1 P-11ESect-11.1 P-12ESect-11.1 P-13ESect-11.1 P-14ESect-11.1 P-15ESect-11.1 P-16ESect-11.1 P-17ESect-11.1 P-18ESect-11.1 P-19ESect-11.1 P-20ESect-11.1 P-21ESect-11.1 P-22ESect-11.1 P-23ESect-11.1 P-24ESect-11.1 P-25ESect-11.1 P-26ESect-11.1 P-27ESect-11.1 P-28ESect-11.1 P-29ESect-11.1 P-30ESect-11.1 P-31ESect-11.1 P-32ESect-11.1 P-33ESect-11.1 P-34ESect-11.1 P-35ESect-11.1 P-36ESect-11.1 P-37ESect-11.1 P-38ESect-11.1 P-39ESect-11.1 P-40ESect-11.1 P-41ESect-11.1 P-42ESect-11.1 P-43ESect-11.1 P-44ESect-11.1 P-45ESect-11.1 P-46ESect-11.1 P-47ESect-11.1 P-48ESect-11.1 P-49ESect-11.1 P-50ESect-11.1 P-51ESect-11.1 P-52ESect-11.2 P-1CPSect-11.2 P-2CPSect-11.2 P-3CPSect-11.2 P-4CPSect-11.2 P-1ESect-11.2 P-2ESect-11.2 P-3ESect-11.2 P-4ESect-11.2 P-5ESect-11.2 P-6ESect-11.2 P-7ESect-11.2 P-8ESect-11.2 P-9ESect-11.2 P-10ESect-11.2 P-11ESect-11.2 P-12ESect-11.2 P-13ESect-11.2 P-14ESect-11.2 P-15ESect-11.2 P-16ESect-11.2 P-17ESect-11.2 P-18ESect-11.2 P-19ESect-11.2 P-20ESect-11.2 P-21ESect-11.2 P-22ESect-11.2 P-23ESect-11.2 P-24ESect-11.2 P-25ESect-11.2 P-26ESect-11.2 P-27ESect-11.2 P-28ESect-11.2 P-29ESect-11.2 P-30ESect-11.2 P-31ESect-11.2 P-32ESect-11.2 P-33ESect-11.2 P-34ESect-11.2 P-35ESect-11.2 P-36ESect-11.2 P-37ESect-11.2 P-38ESect-11.2 P-39ESect-11.2 P-40ESect-11.2 P-41ESect-11.2 P-42ESect-11.2 P-43ESect-11.2 P-44ESect-11.2 P-45ESect-11.2 P-46ESect-11.2 P-47ESect-11.2 P-48ESect-11.2 P-49ESect-11.2 P-50ESect-11.2 P-51ESect-11.2 P-52ESect-11.2 P-55ESect-11.2 P-56ESect-11.2 P-58ESect-11.2 P-59ESect-11.2 P-60ESect-11.2 P-61ESect-11.2 P-62ESect-11.2 P-66ESect-11.3 P-1CPSect-11.3 P-2CPSect-11.3 P-1ESect-11.3 P-2ESect-11.3 P-3ESect-11.3 P-4ESect-11.3 P-5ESect-11.3 P-6ESect-11.3 P-7ESect-11.3 P-8ESect-11.3 P-9ESect-11.3 P-10ESect-11.3 P-11ESect-11.3 P-12ESect-11.3 P-13ESect-11.3 P-14ESect-11.3 P-15ESect-11.3 P-16ESect-11.3 P-17ESect-11.3 P-18ESect-11.3 P-19ESect-11.3 P-20ESect-11.3 P-21ESect-11.3 P-22ESect-11.3 P-23ESect-11.3 P-24ESect-11.3 P-25ESect-11.3 P-26ESect-11.3 P-27ESect-11.3 P-28ESect-11.3 P-29ESect-11.3 P-30ESect-11.3 P-31ESect-11.3 P-32ESect-11.3 P-33ESect-11.3 P-34ESect-11.3 P-35ESect-11.3 P-36ESect-11.3 P-37ESect-11.3 P-38ESect-11.3 P-39ESect-11.3 P-40ESect-11.3 P-41ESect-11.3 P-42ESect-11.3 P-43ESect-11.3 P-44ESect-11.3 P-45ESect-11.3 P-46ESect-11.3 P-47ESect-11.3 P-48ESect-11.3 P-49ESect-11.3 P-50ESect-11.3 P-51ESect-11.3 P-52ESect-11.3 P-53ESect-11.3 P-54ESect-11.3 P-55ESect-11.3 P-56ESect-11.3 P-57ESect-11.3 P-58ESect-11.3 P-59ESect-11.3 P-60ESect-11.3 P-61ESect-11.3 P-62ESect-11.3 P-63ESect-11.4 P-1CPSect-11.4 P-2CPSect-11.4 P-3CPSect-11.4 P-1ESect-11.4 P-2ESect-11.4 P-3ESect-11.4 P-4ESect-11.4 P-5ESect-11.4 P-6ESect-11.4 P-7ESect-11.4 P-8ESect-11.4 P-9ESect-11.4 P-10ESect-11.4 P-11ESect-11.4 P-12ESect-11.4 P-13ESect-11.4 P-14ESect-11.4 P-15ESect-11.4 P-16ESect-11.4 P-17ESect-11.4 P-18ESect-11.4 P-19ESect-11.4 P-20ESect-11.4 P-21ESect-11.4 P-22ESect-11.4 P-23ESect-11.4 P-24ESect-11.4 P-25ESect-11.4 P-26ESect-11.4 P-27ESect-11.4 P-28ESect-11.4 P-29ESect-11.4 P-30ESect-11.4 P-31ESect-11.4 P-32ESect-11.4 P-33ESect-11.4 P-34ESect-11.4 P-35ESect-11.4 P-36ESect-11.4 P-37ESect-11.4 P-38ESect-11.4 P-39ESect-11.5 P-1CPSect-11.5 P-2CPSect-11.5 P-3CPSect-11.5 P-4CPSect-11.5 P-1ESect-11.5 P-2ESect-11.5 P-3ESect-11.5 P-4ESect-11.5 P-5ESect-11.5 P-6ESect-11.5 P-7ESect-11.5 P-8ESect-11.5 P-9ESect-11.5 P-10ESect-11.5 P-11ESect-11.5 P-12ESect-11.5 P-15ESect-11.5 P-16ESect-11.5 P-17ESect-11.5 P-18ESect-11.5 P-19ESect-11.5 P-20ESect-11.5 P-21ESect-11.5 P-22ESect-11.5 P-23ESect-11.5 P-24ECh-11 P-1RECh-11 P-2RECh-11 P-3RECh-11 P-4RECh-11 P-5RECh-11 P-6RECh-11 P-7RECh-11 P-8RECh-11 P-9RECh-11 P-10RECh-11 P-11RECh-11 P-12RECh-11 P-13RECh-11 P-14RECh-11 P-15RECh-11 P-16RECh-11 P-17RECh-11 P-18RECh-11 P-19RECh-11 P-20RECh-11 P-21RECh-11 P-22RECh-11 P-23RECh-11 P-24RECh-11 P-25RECh-11 P-26RECh-11 P-27RECh-11 P-28RECh-11 P-29RECh-11 P-30RECh-11 P-31RECh-11 P-32RECh-11 P-33RECh-11 P-34RECh-11 P-38RECh-11 P-39RECh-11 P-40RECh-11 P-41RECh-11 P-35RECh-11 P-36RECh-11 P-37RECh-11 P-1TCh-11 P-2TCh-11 P-3TCh-11 P-4TCh-11 P-5TCh-11 P-6TCh-11 P-7TCh-11 P-8TCh-11 P-9TCh-11 P-10TCh-11 P-11TCh-11 P-12TCh-11 P-13TCh-11 P-14TCh-11 P-15TCh-11 P-16TCh-11 P-17TCh-11 P-19T

Additional Math Solutions

Find more solutions based on key concepts

Show solutions add

Restaurant Revenue Nicole owns and operates two restaurants. The revenue of the first restaurant at time t is f...

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

State the Substitution Rule. In practice, how do you use it?

Single Variable Calculus: Early Transcendentals, Volume I

Find 28.5% of %14,000.

Elementary Technical Mathematics

True or False: The function graphed at the right is one-to-one.

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Find for y defined implicity by .

Study Guide for Stewart's Multivariable Calculus, 8th