
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN: 9780134463216
Author: Robert F. Blitzer
Publisher: PEARSON
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Transcribed Image Text:For the demand function q = D(x) =
400
find the following.
a) The elasticity
b) The elasticity at x = 7, stating whether the demand is elastic, inelastic, or has unit elasticity
c) The value(s) of x for which total revenue is a maximum (assume that x is in dollars)
a) Find the equation for elasticity.
E(x) =
b) Find the elasticity at the given price, stating whether the demand
elastic, inelastic, or has unit elasticity.
E(7) =
(Simplify your answer. Type an integer or a fraction.)
Is the demand at x =7 elastic, inelastic, or does it have unit elasticity?
O A. elastic
O B. unit elasticity
O C. inelastic
c) Find the value(s) of x for which total revenue is a maximum (assume that x is in dollars).
O A. $
(Round to the nearest cent as needed. Use a comma to separate answers as needed.)
O B. The total revenue is independent of x.
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