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Thread: Elasticity of Demand

  1. November 30th 2009, 08:07 PM #1
    jascalc
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    Unhappy Elasticity of Demand

    Q. It costs p dollars (0<or=p<or=160) and the daily demand is q=256-0.01p^2
    Q. what is the elasticity of demand? p when it is elastic, inelastic?
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  2. December 1st 2009, 03:17 AM #2
    HallsofIvy
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    What is the definition of "elasticity of demand"?
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  3. December 1st 2009, 05:20 AM #3
    jascalc
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    Quote Originally Posted by HallsofIvy View Post
    What is the definition of "elasticity of demand"?
    The Elasticity of the demand is how the change in price effects the revenue. Im trying to find when it is elastic, inelastic and of unit elasticity?
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