For the demand function x=D(p)=50-4p : (a) The elasticity is E(p)= (b) When p=5 , the elasticity E(5)= the demand is ---Select--- v (c) The price at which the total revenue is at a maximum is p=

Microeconomics
13th Edition
ISBN:9781337617406
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Elasticity
Section: Chapter Questions
Problem 3QP: Prove that price elasticity of demand is not the same as the slope of a demand curve.
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For the demand function x=D(p)=50-4p:
(a) The elasticity is E(p)=
(b) When p=5, the elasticity E(5)=
the demand is ---Select-- v
(c) The price at which the total revenue is at a maximum is p=
Transcribed Image Text:For the demand function x=D(p)=50-4p: (a) The elasticity is E(p)= (b) When p=5, the elasticity E(5)= the demand is ---Select-- v (c) The price at which the total revenue is at a maximum is p=
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