Asked by Maddie
If the demand is x(p)=40(p-15^2) with p being the price and x being hte demand, what would the elasticity of demand equation be?
Answers
Answered by
Steve
recall that the elasticity is
(dx/dp)(p/x)
= (40)(p/(40(p-15^2))
= p/(p-15^2)
(dx/dp)(p/x)
= (40)(p/(40(p-15^2))
= p/(p-15^2)
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