Question
how do you do price elasticity when you have the equation p^3 x^3=9. and x=2
Answers
Henry
p^3*2^3 = 9,
8p^3 = 9,
p^3 = 9/8.
p = crt(9/8) = 1.04.
8p^3 = 9,
p^3 = 9/8.
p = crt(9/8) = 1.04.