Question

dont need multiple choicd just fill in the blank

In this problem, p is in dollars and is the number of units. Suppose that the demand for a product is given by + ?)=3-1380 (a) Find the elasticity when - s. (Round your answer to two decimal places.) (b) Tell what type of elasticity this is. Demand is elastic Demand is inelastic. Demand is unitary. (c) How would a price increase affect revenue? An increase in price increases revenue. An increase in price decreases revenue. Revenue is unaffected by price. Need Help? Pls The demand function for specialty steel products is given, where p is in dollars and is the number of units. (a) Find the elasticity of demand as a function of the quantity demanded, q. (b) Find the point at which the demand is of unitary elasticity. Find intervals in which the demand is inelastic and in which it is elastic. (Enter your answers using interval notation.) neltic (c) Use information about elasticity in part (b) to decide where the revenue is increasing, and where it is decreasing. (Enter your answers using interval notation.) Increasing decreasing Use information about elasticity in part (b) to decide where the revenue is maximized. 4 =

Answer 1

YT (P+7) √9+8 = 1380 19+8 1380 P+7 Now q 1380² - 8 (p+7) - dq dp 13802x - 2 (P +7) mm elasticity = 1 del P n 1380² 1380² x 2 (P +73 8 (P+7)2 1 at p = $53 n Х 53 1380² -8 602 2x13802 603 n 1.79 Notes:

P = = 105 /140-9 p - 140-2 - 1053 3 = q = 140-P 1053 da 0 de 1053 - - 36² 1053 n = P a lap/ =) 2 • 1053140-9 q 3 p Х 1053 2h 2 105 3140-2 q 3x105° (1740-3) Х 1053 =) 3(140-2) q Notes: