For each demand function, find an expression for the price elasticity of demand. 1. D(p)=60−p 2. D(p) = 40p^−2 3. D(p)=(p+2)^−1

A: Suppose the initial demand at the price of $10 was 100. When the price rises to $12, the demand drops to 30. Find the price elasticity of the demand. Is the demand elastic or inelastic in this price range? Will the revenue increase or decrease as the result of this price change? Justify your answer. B:. Using calculus, calculate the price elasticity of the following demand functions: D(p)=10-2ln(p) and D(p)=7p -3 . C: Suppose now that the demand is D(p)=12-3p. At what price is the revenue maximized? What is the maximum revenue? What is the price elasticity of demand at this price?

Calculate the elasticity of demand, if the demand function is at the point where p = 6 and Q = 10. The elasticity of demand is ε = Q=160-4p +24Y, (Enter your response rounded to one decimal place and include a minus sign.)

Demand for carpet cleaner rentals at a rental store is described by the equation: Q = 4,000 - 500P, where Q denoted the number of carpet cleaner rental per week and P is the rental price in dollars. Determine the point price elasticity of demand at (1) P = $3 and (2) P = $4.5 and (3) comment on the change in elasticity. (4) Ignoring the previous parts, what is the appropriate price to set in order to maximize profit for a good with a marginal cost of $35 and a demand elasticity of -2?