For the demand function q = D(p)=√√450- p, find the following. a) The elasticity b) The elasticity at p=78, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars)

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter4: Polynomial And Rational Functions
Section4.6: Variation
Problem 2E
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For the demand function q = D(p)=√450- p, find the following.
a) The elasticity
b) The elasticity at p= 78, stating whether the demand is elastic, inelastic or has unit elasticity
c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars)
Transcribed Image Text:For the demand function q = D(p)=√450- p, find the following. a) The elasticity b) The elasticity at p= 78, stating whether the demand is elastic, inelastic or has unit elasticity c) The value(s) of p for which total revenue is a maximum (assume that p is in dollars)
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