A community for students.
Here's the question you clicked on:
 0 viewing
anonymous
 5 years ago
the demand function for a certain comodity is given by f(p)=180 0.3p^2, where p is the price in dollars and f(p) is the number of items sold.
find the elasticity of demand when p=10 and tell whether it is elastic or inelastic.
Could someone help me on this, i am not understanding..
anonymous
 5 years ago
the demand function for a certain comodity is given by f(p)=180 0.3p^2, where p is the price in dollars and f(p) is the number of items sold. find the elasticity of demand when p=10 and tell whether it is elastic or inelastic. Could someone help me on this, i am not understanding..

This Question is Closed

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0elasticity 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 :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I think this is economics. She talking about price elasticity.

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0taking macroeconomics right now :)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0no its actually calculus for business majors

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0take the derivative and see if at p=10 is a zero slope if it is, that means it aint moving at that point

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0if its another number, that number is your elasticiy of demand for that price.... how fast its moving :)

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0180p (.3/3)p^3 is the derivative....

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.01800  100 = 1700. I would say that the elasticity of demand is 1700 .... that should be in a rate format...

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0ack!!... thats not a derivative.... i did integral on it.....

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.00.6p should be the derivative... sorry :)

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.06 is the elasticity of demand at p=10 ..... i think

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0demand is falling at a rate of 6 units per something

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0could you show me that in the formula please

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0I can try... do you know about derivatives yet?

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0do 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.

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0good; then explain to me what you need me to show you again? please

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0no i got it now thank you...so it would be elastic

amistre64
 5 years ago
Best ResponseYou've already chosen the best response.0it 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 :)
Ask your own question
Sign UpFind more explanations on OpenStudy
Your question is ready. Sign up for free to start getting answers.
spraguer
(Moderator)
5
→ View Detailed Profile
is replying to Can someone tell me what button the professor is hitting...
23
 Teamwork 19 Teammate
 Problem Solving 19 Hero
 Engagement 19 Mad Hatter
 You have blocked this person.
 ✔ You're a fan Checking fan status...
Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.