Given the demand function P = 1000 – 10Q² calculate the following Elasticities. d) The arc elasticity from Q = 5 to Q = 6 e) The Point Elasticity at Q = 5 and Q = f) Find the value for Q where there is unit Elasticity

A bakery works out a demand function for its chocolate chip cookies and finds it to be q = D(x) = 898-15x, where q is the quantity of cookies sold when the price per cookie, in cents, is x. Use this infor a) Find the elasticity b) At what price is the elasticity of demand equal to 1 ?

The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand. p= -0.02x² -0.2x+6 Compute the elasticity of demand when x = 11. (Round your answer to two decimal places.) 0.22 Determine whether the demand is inelastic, unitary, or elastic when x = 11. elastic inelastic O unitary

What does an income elasticity of demand of 1.33 mean?

Currently, 10,000 people take city buses each day and pay 2 dollars for a ticket. The number of people taking city buses at price p dollars per ticket is given X = 5000 6-p (a) Evaluate the elasticity at 5. E(5) (b) Currently, the price per ticket is 2 dollars. Should the price be raised in order to increase revenue? Enter 1 for Yes or 2 for No. answer = (c) For what value of p, the demand is unitary.p = = (d) What is the maximum revenue? Revenue =

Calculate price elasticity of demand using the mid-point method

Given the demand equation, Q = 120000 -10P2 for this equation, write the expression for the point price elasticity of demand as a function of P   Over what range of the prices is the demand inelastic?