Thread: Elasticity

The price elasticity is given by



and the demand equation is given by

and p is given as 4 for

So i plus in 4. Which gives q as 560.

Then i take derivative of q which is 35? and derivative of p which is one?

Then throw them in the elasticity equation and get -0.25.

Does that make sense?

The derivative of is -35, and you don't need the derivative of ;

so i have





That cant be right.

if

then derivative of p is one?

Hi el123

Originally Posted by el123

so i have





That cant be right.

if

then derivative of p is one?

According to BobP's statement

it is

and the demand equation is given by

and



=>

so

Yours
Rapha

If , then the derivative of wrt is



Also, if then

and the derivative of wrt would be

,

but that particular derivative is not needed.

indeed you are right.I see my mistake.

Thanks guys ...or girls.

One more thing , what does the ...for mean?

It means that p is to be greater than or equal to zero, and less than or equal to 20.

i.e. p has to lie within the range zero to 20 inclusive.