Question

Question #1) Find (a) the elasticity of demand and (b) the range of prices for which the demand is elastic (E , -1). f(p) = 200(30 - p)

Question #2) Suppose that at price p = 15 dollars the demand for a product is elastic. If the price is raised, what will happen to revenue?

Answer 1

@mukushla can u help?

Answer 2

sorry i have it forgotten :(

Answer 3

ok

Answer 4

@electrokid can u help?

Answer 5

elasticity is the first derivative

so, elasticity of demand = derivative of demand function

Answer 6

so i should take the derivative?

Answer 7

wait, I might be wrong here. what does the book say about that elasticity of demand?