29-07-2017
Mathematics

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Compute the point elasticity of demand when p=40

Compute the point elasticity of demand when p40 class=

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mathmate mathmate

29-07-2017

Price elasticity is the change in quantity in response to change in price.
In mathematical terms,
Price elasticity of demand is dq/dp
given
q=sqrt(100-p)
dq/dp = -1/(2sqrt(100-p))

Price elasticity of demand = -1/(2sqrt(100-p))

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