Calculus: Early Transcendentals
8th Edition
ISBN: 9781285741550
Author: James Stewart
Publisher: Cengage Learning
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Given the demand curve q=400-10p, find the elasticity of demand with p=30
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Step 1
Elasticity:
Demand curve q=400-10p
We need to find the elasticity of demand at p=30.
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- help experts keep getting wrongarrow_forwardGiven the demand function P = 12.5e0.04Q Determine the quantity Q and price P at which total revenue (TR) will be maximized. Make sure to check the second-order condition for a maximum.arrow_forwardSuppose demand is given by p = 1600 − x. Find the maximum revenue.arrow_forward
- In this problem, p is in dollars and q is the number of units. (a) Find the elasticity of the demand function pq = 36 at p = 4. (b) How will a price increase affect total revenue?arrow_forwardThe monthly demand function for a product sold by a monopoly is p=1860-1/3x2 dollars the average cost is c=900+2x+x2 dollars. Production is limited to 1000 units and x is in hundred of units. (a) Find the quanity(in hundred of units) that will give maximum profits (b) Find the maximum profit. (Round yur answer to the nearest cent.)arrow_forwardThe monthly demand function for a product sold by a monopoly is p=860-1/3x2 dollars, and the average cost is c=900+x2 dollars.production is limited to 1000 units and x is in hundred units. (a) Find the quanity (in hundreds of units) that will give maximum profits. (b) Find the maximum profit. (Round your answers to the nearest cent)arrow_forward
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