Explanation Given: The equation is p = 169 − x 2 and the value of p is 29 . Definition used: (1) If the value of E ( p ) > 1 then the demand is said to be elastic. (2) If the value of E ( p ) = 1 then the demand is said to be unitary. (3) If the value of E ( p ) < 1 then the demand is said to inelastic. Formula used: The elasticity of demand is given by the relation, E ( p ) = − p f ' ( p ) f ( p ) (1) Calculation: Rewrite the given equation as a function of p , p = 169 − x 2 x 2 = 169 − p x = f ( p ) x = 169 − p Differentiate the function with respect to p , f ' ( p ) = d d p ( 169 − p ) = 1 2 169 − p ⋅ d d p ( 169 − p ) = ( − 1 ) 2 169 − p ( ∵ d d x ( x ) n = n x n − 1 )

Applied Calculus for the Managerial, Life, and Social Sciences (MindTap Course List)

10th Edition

ISBN: 9781305657861

Author: Soo T. Tan

Publisher: Cengage Learning

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Chapter 3.4, Problem 31E

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The elasticity of demand and find whether the demand is elastic, unitary or inelastic.

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Chapter 3.4, Problem 30E

Chapter 3.4, Problem 32E

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Chapter 3 Solutions

Applied Calculus for the Managerial, Life, and Social Sciences (MindTap Course List)

Ch. 3.1 - State the following rules of differentiation in...Ch. 3.1 - Prob. 2CQ Ch. 3.1 - Prob. 3CQ Ch. 3.1 - Prob. 4CQ Ch. 3.1 - Prob. 1E Ch. 3.1 - Prob. 2E Ch. 3.1 - Prob. 3E Ch. 3.1 - Prob. 4E Ch. 3.1 - Prob. 5E Ch. 3.1 - Prob. 6E

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AUTO TRANSMISSIONS .AND FUEL ECONOMY In trying to...Ch. 3.5 - Prob. 32E Ch. 3.5 - Prob. 33E Ch. 3.5 - Prob. 34E Ch. 3.5 - Prob. 35E Ch. 3.5 - Prob. 36E Ch. 3.5 - Prob. 37E Ch. 3.5 - Prob. 38E Ch. 3.5 - Prob. 39E Ch. 3.5 - Prob. 40E Ch. 3.5 - Prob. 41E Ch. 3.5 - Prob. 42E Ch. 3.5 - Prob. 43E Ch. 3.5 - Prob. 44E Ch. 3.5 - Prob. 45E Ch. 3.5 - Prob. 46E Ch. 3.5 - Prob. 47E Ch. 3.5 - Prob. 48E Ch. 3.5 - Prob. 49E Ch. 3.5 - Prob. 50E Ch. 3.5 - Prob. 1TE Ch. 3.5 - Prob. 2TE Ch. 3.5 - Prob. 3TE Ch. 3.5 - Prob. 4TE Ch. 3.5 - In Exercises 1-8, find the value of the second...Ch. 3.5 - Prob. 6TE Ch. 3.5 - Prob. 7TE Ch. 3.5 - Prob. 8TE Ch. 3.6 - Prob. 1CQ Ch. 3.6 - Prob. 2CQ Ch. 3.6 - Prob. 3CQ Ch. 3.6 - Prob. 4CQ Ch. 3.6 - Prob. 1E Ch. 3.6 - Prob. 2E Ch. 3.6 - Prob. 3E Ch. 3.6 - Prob. 4E Ch. 3.6 - Prob. 5E Ch. 3.6 - Prob. 6E Ch. 3.6 - Prob. 7E Ch. 3.6 - Prob. 8E Ch. 3.6 - Prob. 9E Ch. 3.6 - Prob. 10E Ch. 3.6 - Prob. 11E Ch. 3.6 - Prob. 12E Ch. 3.6 - Prob. 13E Ch. 3.6 - Prob. 14E Ch. 3.6 - Prob. 15E Ch. 3.6 - 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The elasticity of demand and find whether the demand is elastic, unitary or inelastic.

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Chapter 3 Solutions