Finite Mathematics and Calculus with Applications (10th Edition)
Finite Mathematics and Calculus with Applications (10th Edition)
10th Edition
ISBN: 9780321979407
Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey
Publisher: PEARSON
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Chapter 14.3, Problem 31E

Elasticity A study of the demand for air travel in Australia found that the demand for discount air travel from Sydney to Melbourne (in revenue passenger kilometer per capita, the product of the number of passengers traveling on a route and the distance of the route, divided by the populations of the host cities) depends on the airfare according to the equation

      q = 55.2 − 0.022 p .

Source: International Journal of Transport Economics.

(a)    Find the elasticity when the price is $166.10, the average discount airfare deflated by the consumer price index to 1989–1990 prices, according to the authors of the study.

(b)    Is the demand for airfare elastic or inelastic at this price?

(c)    Find the price that maximizes revenue.

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Chapter 14 Solutions

Finite Mathematics and Calculus with Applications (10th Edition)

Ch. 14.1 - Find the absolute extrema of the function f(x) =...Ch. 14.1 - Find the locations and values of the absolute...Ch. 14.1 - Prob. 1WECh. 14.1 - Find all critical numbers for each of the...Ch. 14.1 - Prob. 1ECh. 14.1 - Prob. 2ECh. 14.1 - Prob. 3ECh. 14.1 - Find the locations of any absolute extrema for the...Ch. 14.1 - Prob. 5ECh. 14.1 - Prob. 6E
Ch. 14.1 - Prob. 7ECh. 14.1 - Prob. 8ECh. 14.1 - Prob. 9ECh. 14.1 - Prob. 10ECh. 14.1 - Prob. 11ECh. 14.1 - Prob. 12ECh. 14.1 - Prob. 13ECh. 14.1 - Prob. 14ECh. 14.1 - Prob. 15ECh. 14.1 - Prob. 16ECh. 14.1 - Find the absolute extrema if they exist, as well...Ch. 14.1 - Prob. 18ECh. 14.1 - Prob. 19ECh. 14.1 - Prob. 20ECh. 14.1 - Prob. 21ECh. 14.1 - Prob. 22ECh. 14.1 - Prob. 23ECh. 14.1 - Prob. 24ECh. 14.1 - Prob. 25ECh. 14.1 - Prob. 26ECh. 14.1 - Prob. 27ECh. 14.1 - Prob. 28ECh. 14.1 - Prob. 29ECh. 14.1 - Prob. 30ECh. 14.1 - Prob. 31ECh. 14.1 - Prob. 32ECh. 14.1 - Prob. 33ECh. 14.1 - Prob. 34ECh. 14.1 - Prob. 35ECh. 14.1 - Find the absolute extrema if they exist, as well...Ch. 14.1 - Prob. 37ECh. 14.1 - Prob. 38ECh. 14.1 - Prob. 39ECh. 14.1 - Prob. 40ECh. 14.1 - Prob. 41ECh. 14.1 - Prob. 42ECh. 14.1 - Prob. 43ECh. 14.1 - Prob. 44ECh. 14.1 - Prob. 45ECh. 14.1 - Prob. 46ECh. 14.1 - Prob. 47ECh. 14.1 - Prob. 48ECh. 14.1 - Prob. 49ECh. 14.1 - Prob. 50ECh. 14.1 - Prob. 51ECh. 14.1 - Prob. 53ECh. 14.1 - Salmon Spawning The number of salmon swimming...Ch. 14.1 - Prob. 55ECh. 14.1 - Prob. 56ECh. 14.1 - Prob. 57ECh. 14.1 - Prob. 58ECh. 14.1 - Prob. 59ECh. 14.1 - Prob. 60ECh. 14.1 - Prob. 61ECh. 14.1 - Prob. 62ECh. 14.2 - Prob. 1YTCh. 14.2 - Prob. 2YTCh. 14.2 - Prob. 3YTCh. 14.2 - Prob. 4YTCh. 14.2 - Prob. 1WECh. 14.2 - Prob. 2WECh. 14.2 - Prob. 1ECh. 14.2 - Prob. 2ECh. 14.2 - Prob. 3ECh. 14.2 - Prob. 4ECh. 14.2 - Prob. 5ECh. 14.2 - Prob. 6ECh. 14.2 - Prob. 7ECh. 14.2 - Prob. 8ECh. 14.2 - Prob. 9ECh. 14.2 - Prob. 10ECh. 14.2 - Prob. 11ECh. 14.2 - Prob. 12ECh. 14.2 - Prob. 13ECh. 14.2 - Prob. 14ECh. 14.2 - Revenue A local club is arranging a charter flight...Ch. 14.2 - Prob. 16ECh. 14.2 - Prob. 17ECh. 14.2 - Prob. 18ECh. 14.2 - Prob. 19ECh. 14.2 - Prob. 20ECh. 14.2 - Prob. 21ECh. 14.2 - Prob. 22ECh. 14.2 - Prob. 23ECh. 14.2 - Prob. 24ECh. 14.2 - Prob. 25ECh. 14.2 - Container Design Your company needs to design...Ch. 14.2 - Prob. 27ECh. 14.2 - Prob. 28ECh. 14.2 - Prob. 29ECh. 14.2 - Prob. 30ECh. 14.2 - Prob. 31ECh. 14.2 - Prob. 32ECh. 14.2 - Prob. 33ECh. 14.2 - Prob. 34ECh. 14.2 - Prob. 35ECh. 14.2 - Prob. 36ECh. 14.2 - Prob. 37ECh. 14.2 - Prob. 38ECh. 14.2 - Prob. 39ECh. 14.2 - Prob. 40ECh. 14.2 - Maximum Sustainable Harvest In Exercises 41 and...Ch. 14.2 - Prob. 42ECh. 14.2 - Prob. 43ECh. 14.2 - Prob. 44ECh. 14.2 - Harvesting Cod A recent article described the...Ch. 14.2 - Prob. 46ECh. 14.2 - Prob. 47ECh. 14.2 - Bird Migration Suppose a migrating bird flies at a...Ch. 14.2 - Prob. 49ECh. 14.2 - Prob. 50ECh. 14.2 - Prob. 51ECh. 14.3 - Suppose the annual demand in Example 1 is only...Ch. 14.3 - Prob. 2YTCh. 14.3 - Prob. 3YTCh. 14.3 - Prob. 4YTCh. 14.3 - Prob. 5YTCh. 14.3 - Prob. 1WECh. 14.3 - Prob. 2WECh. 14.3 - In the discussion of economic lot size, use the...Ch. 14.3 - Prob. 2ECh. 14.3 - Prob. 3ECh. 14.3 - Prob. 4ECh. 14.3 - Prob. 5ECh. 14.3 - Prob. 6ECh. 14.3 - Prob. 7ECh. 14.3 - Prob. 8ECh. 14.3 - Prob. 9ECh. 14.3 - Prob. 10ECh. 14.3 - Prob. 11ECh. 14.3 - Prob. 12ECh. 14.3 - Prob. 13ECh. 14.3 - Prob. 14ECh. 14.3 - Prob. 15ECh. 14.3 - Prob. 16ECh. 14.3 - Prob. 17ECh. 14.3 - Prob. 18ECh. 14.3 - Elasticity For each of the following demand...Ch. 14.3 - Elasticity For each of the following demand...Ch. 14.3 - Prob. 21ECh. 14.3 - Elasticity For each of the following demand...Ch. 14.3 - Prob. 23ECh. 14.3 - Prob. 24ECh. 14.3 - Prob. 25ECh. 14.3 - Prob. 26ECh. 14.3 - Prob. 27ECh. 14.3 - Prob. 28ECh. 14.3 - Elasticity of Software The Valve Corporation, a...Ch. 14.3 - Prob. 30ECh. 14.3 - Elasticity A study of the demand for air travel in...Ch. 14.3 - Elasticity The price along the West Coast of the...Ch. 14.3 - Prob. 33ECh. 14.3 - Prob. 34ECh. 14.4 - Prob. 1YTCh. 14.4 - Prob. 2YTCh. 14.4 - The graph of y4 x4 y2 + x2 = 0 is called the...Ch. 14.4 - Prob. 4YTCh. 14.4 - Prob. 1WECh. 14.4 - Prob. 2WECh. 14.4 - Find dy/dx by implicit differentiation for the...Ch. 14.4 - Prob. 2ECh. 14.4 - Prob. 3ECh. 14.4 - Prob. 4ECh. 14.4 - Prob. 5ECh. 14.4 - Prob. 6ECh. 14.4 - Prob. 7ECh. 14.4 - Prob. 8ECh. 14.4 - Prob. 9ECh. 14.4 - Prob. 10ECh. 14.4 - Prob. 11ECh. 14.4 - Prob. 12ECh. 14.4 - Prob. 13ECh. 14.4 - Prob. 14ECh. 14.4 - Prob. 15ECh. 14.4 - Prob. 16ECh. 14.4 - Prob. 17ECh. 14.4 - Prob. 18ECh. 14.4 - Prob. 19ECh. 14.4 - Prob. 20ECh. 14.4 - Prob. 21ECh. 14.4 - Prob. 22ECh. 14.4 - Prob. 23ECh. 14.4 - Prob. 24ECh. 14.4 - Prob. 25ECh. 14.4 - Prob. 26ECh. 14.4 - Prob. 27ECh. 14.4 - Prob. 28ECh. 14.4 - Prob. 29ECh. 14.4 - Prob. 30ECh. 14.4 - Prob. 31ECh. 14.4 - Prob. 32ECh. 14.4 - Prob. 33ECh. 14.4 - Prob. 34ECh. 14.4 - Prob. 35ECh. 14.4 - Prob. 36ECh. 14.4 - Prob. 37ECh. 14.4 - Prob. 38ECh. 14.4 - Prob. 39ECh. 14.4 - Prob. 40ECh. 14.4 - Prob. 41ECh. 14.4 - Prob. 42ECh. 14.4 - Prob. 43ECh. 14.4 - Demand The demand equation for a certain product...Ch. 14.4 - Prob. 45ECh. 14.4 - Prob. 46ECh. 14.4 - Prob. 47ECh. 14.4 - Prob. 48ECh. 14.4 - Prob. 49ECh. 14.4 - Prob. 50ECh. 14.4 - Prob. 51ECh. 14.4 - Prob. 52ECh. 14.4 - Prob. 53ECh. 14.5 - Prob. 1YTCh. 14.5 - Prob. 2YTCh. 14.5 - Prob. 3YTCh. 14.5 - Prob. 4YTCh. 14.5 - Prob. 1WECh. 14.5 - Prob. 2WECh. 14.5 - Prob. 1ECh. 14.5 - Prob. 2ECh. 14.5 - Prob. 3ECh. 14.5 - Prob. 4ECh. 14.5 - Prob. 5ECh. 14.5 - Prob. 6ECh. 14.5 - Prob. 7ECh. 14.5 - Prob. 8ECh. 14.5 - Prob. 9ECh. 14.5 - Prob. 10ECh. 14.5 - Prob. 11ECh. 14.5 - Prob. 12ECh. 14.5 - Prob. 13ECh. 14.5 - Prob. 14ECh. 14.5 - Prob. 15ECh. 14.5 - Prob. 16ECh. 14.5 - Prob. 17ECh. 14.5 - Prob. 18ECh. 14.5 - Prob. 19ECh. 14.5 - Prob. 20ECh. 14.5 - Prob. 21ECh. 14.5 - Prob. 22ECh. 14.5 - Prob. 23ECh. 14.5 - Prob. 24ECh. 14.5 - Prob. 25ECh. 14.5 - Prob. 26ECh. 14.5 - Prob. 27ECh. 14.5 - Prob. 28ECh. 14.5 - Prob. 29ECh. 14.5 - Prob. 30ECh. 14.5 - Prob. 31ECh. 14.5 - Prob. 32ECh. 14.6 - Prob. 1YTCh. 14.6 - Prob. 2YTCh. 14.6 - Prob. 3YTCh. 14.6 - Prob. 1WECh. 14.6 - Prob. 2WECh. 14.6 - Prob. 1ECh. 14.6 - Prob. 2ECh. 14.6 - Prob. 3ECh. 14.6 - Prob. 4ECh. 14.6 - Prob. 5ECh. 14.6 - For Exercises 18, find dy for the given values of...Ch. 14.6 - For Exercises 18, find dy for the given values of...Ch. 14.6 - Prob. 8ECh. 14.6 - Prob. 9ECh. 14.6 - Prob. 10ECh. 14.6 - Prob. 11ECh. 14.6 - Prob. 12ECh. 14.6 - Prob. 13ECh. 14.6 - Prob. 14ECh. 14.6 - Use the differential to approximate each quantity....Ch. 14.6 - Prob. 16ECh. 14.6 - Business and Economies 17.Demand The demand for...Ch. 14.6 - Prob. 18ECh. 14.6 - Revenue A company estimates that the revenue (in...Ch. 14.6 - Prob. 20ECh. 14.6 - Prob. 21ECh. 14.6 - Prob. 22ECh. 14.6 - Prob. 23ECh. 14.6 - Prob. 24ECh. 14.6 - Prob. 25ECh. 14.6 - Prob. 26ECh. 14.6 - Prob. 27ECh. 14.6 - Prob. 28ECh. 14.6 - Prob. 29ECh. 14.6 - Gray Wolves Accurate methods of estimating the age...Ch. 14.6 - Prob. 31ECh. 14.6 - Prob. 32ECh. 14.6 - Prob. 33ECh. 14.6 - Prob. 34ECh. 14.6 - Prob. 35ECh. 14.6 - Prob. 36ECh. 14.6 - Prob. 37ECh. 14.6 - Prob. 38ECh. 14.6 - Prob. 39ECh. 14.6 - Prob. 40ECh. 14.6 - Prob. 41ECh. 14 - The absolute maximum of a function always occurs...Ch. 14 - A continuous function on a closed interval has an...Ch. 14 - Prob. 3RECh. 14 - Prob. 4RECh. 14 - Total revenue is maximized at the price where...Ch. 14 - Prob. 6RECh. 14 - Prob. 7RECh. 14 - Prob. 8RECh. 14 - Prob. 9RECh. 14 - Prob. 10RECh. 14 - Prob. 11RECh. 14 - Prob. 12RECh. 14 - Prob. 13RECh. 14 - Prob. 14RECh. 14 - Prob. 15RECh. 14 - Prob. 16RECh. 14 - Prob. 17RECh. 14 - Prob. 18RECh. 14 - Prob. 19RECh. 14 - Prob. 20RECh. 14 - Prob. 21RECh. 14 - Prob. 22RECh. 14 - Prob. 23RECh. 14 - Prob. 24RECh. 14 - Prob. 25RECh. 14 - Prob. 26RECh. 14 - Prob. 27RECh. 14 - Prob. 28RECh. 14 - Prob. 29RECh. 14 - Prob. 30RECh. 14 - Prob. 31RECh. 14 - Why is implicit differentiation used in related...Ch. 14 - Prob. 33RECh. 14 - Prob. 34RECh. 14 - Prob. 35RECh. 14 - Prob. 36RECh. 14 - Prob. 37RECh. 14 - Prob. 38RECh. 14 - Prob. 39RECh. 14 - Prob. 40RECh. 14 - Prob. 41RECh. 14 - Prob. 42RECh. 14 - Prob. 43RECh. 14 - Prob. 44RECh. 14 - Prob. 45RECh. 14 - Prob. 46RECh. 14 - Prob. 47RECh. 14 - Prob. 48RECh. 14 - Prob. 49RECh. 14 - Prob. 50RECh. 14 - Prob. 51RECh. 14 - Prob. 52RECh. 14 - Prob. 53RECh. 14 - Prob. 54RECh. 14 - Prob. 55RECh. 14 - Prob. 56RECh. 14 - Prob. 57RECh. 14 - Prob. 58RECh. 14 - Prob. 59RECh. 14 - Prob. 60RECh. 14 - Prob. 61RECh. 14 - Prob. 62RECh. 14 - Prob. 63RECh. 14 - Prob. 64RECh. 14 - Prob. 65RECh. 14 - Prob. 66RECh. 14 - Prob. 67RECh. 14 - Prob. 68RE
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