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elasticity generally refers to something being able to move; since demand is moving, i would assume that it is elastic... but that is just a guess :)
I think this is economics. She talking about price elasticity.
taking macroeconomics right now :)
no its actually calculus for business majors
take the derivative and see if at p=10 is a zero slope if it is, that means it aint moving at that point
if its another number, that number is your elasticiy of demand for that price.... how fast its moving :)
180p -(.3/3)p^3 is the derivative....
1800 - .1(1000) = ?
1800 - 100 = 1700. I would say that the elasticity of demand is 1700 .... that should be in a rate format...
ack!!... thats not a derivative.... i did integral on it.....
-0.6p should be the derivative... sorry :)
-6 is the elasticity of demand at p=10 ..... i think
demand is falling at a rate of 6 units per something
could you show me that in the formula please
I can try... do you know about derivatives yet?
do you know how to find the derivative? cause after that, its just plug in p=10 to find the rate of change at that instant.
good; then explain to me what you need me to show you again? please
no i got it now thank you...so it would be elastic
it would be elastic; and the rate at which it is elastic is -6; demand is dropping at a rate of 6 units.... dont know the units :)
awesome thank you
no prob :)