Question

Suppose that the demand of a certain item is x=−0.7p+15.
Evaluate the elasticity at 10:

Answer 1

x = -0.7p+15

E = (∂x/∂p) (p/x)

∂x/∂p = -0.7

E = -0.7p/(15-0.7p)

E[10] = -0.7*10/(15-0.7*10) ...finish it

Answer 2

E(10)=0.875
Thank you so much!