compute the elasticity of demand

Calculus
Tutor: None Selected Time limit: 1 Day

Jul 8th, 2015

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we select two points, first p=10, then d= (-7/4)(10)+18=0.5

finding the derivative of the demand equation, then x'=-7/4

the E(10)=(10/0.5)*(-7/4)

=20*-1.75

=-35 but we ignore the negative to have 35.

for every increase in price the quantity demand will decrease by 35.

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Jul 8th, 2015

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Jul 8th, 2015

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