Find the price elasticity of demand at P=5 for the demand function below. p= 30-3 The...
Find the price elasticity of demand at P = 4 for the demand function below. P=70- The price elasticity of demand at P = 4 is (Do not round until the final answer. Then round to two decimal places as needed.)
Given the following price-demand function, find the elasticity of demand, E(p), and determine whether demand is elastic, inelastic, or has unit elasticity for the following values of p. (Round your answers to two decimal places.) x = 104,544 - 32p2 (a) p = 43 E(P) = Determine the demand. O elastic O inelastic O unit elasticity (b) p = 30 E(P) = Determine the demand. O elastic O inelastic O unit elasticity (c) p = 50 E() = Determine the...
Given the following price-demand function, find the elasticity of demand, E(p), and determine whether demand is elastic, inelastic, or has unit elasticity for the following values of p. (Round your answers to two decimal places.) x = 104,544 - 32p2 (a) p = 43 E(P) = Determine the demand. O elastic O inelastic O unit elasticity (b) p = 30 E(P) = Determine the demand. O elastic O inelastic O unit elasticity (c) p = 50 E() = Determine the...
If the demand function for a product is given by p=4400/q+3 ; find the elasticity for this demand function when p = $220. Round your answer off to 2 decimal places. Elasticity = E =
If the supply equation is Q = 80 +9P+0.9P? (a) find the price elasticity of supply if the current price is 7 (b) estimate the percentage change in supply if the price rises by 5%. (a) (Do not round until the final answer. Then round to two decimal places as needed.) (b) % (Do not round until the final answer. Then round to two decimal places as needed.)
If the supply equation is Q = 110 + 8P+0.9p2 (a) find the price elasticity of supply if the current price is 9. (b) estimate the percentage change in supply if the price rises by 2% (Do not round until the final answer. Then round to two decimal places as needed.) (Do not round until the final answer. Then round to two decimal places as needed.)
The demand equation for a product is q=600 - 50p+p? If the price of $14 is increased by %, find the corresponding percentage change in revenue. 3 If the price of $14 is increased by the approximate change in revenue is %. (Do not round until the final answer. Then round to two decimal places as needed.)
2. Find the price elasticity when p10; p-20 and p-30 for the following demand curve: P 40-1Q 4 a. Remember that the price elasticity formula is: Ed Illustrate the demand below. Now illustrate the price elasticities found above. Do not forget to label your axis b. and points. c. Interpret the price elasticity when the price is 10.
The demand for a product can be approximated by q=D(p)=80e−0.01p, where p represents the price of the product, in dollars, and q is the quantity demanded. (a) Find the elasticity function: E(p)= (b) Evaluate the elasticity at 5. E(5)= (c) Should the unit price be raised slightly from 5 in order to increase revenue? ? yes no (d) Use the elasticity of demand to find the price pp which maximizes revenue for this product. p=p= Round to three decimal places as needed.
The demand function for a particular pair of sunglasses is p = 195 − 0.055q. (a) Compute the elasticity of demand when the sunglasses are priced at $65. (Round your answer to two decimal places.) Then, Compute the elasticity of demand for the given price. (Round your answer to two decimal places.) 1.25p + q = 850, p = 225