Consider the following.
Demand Function Quantity Demanded
p = 18 - 0.0003x x = 30,000
Find the price elasticity of demand for the demand function at the indicated x-value.
Is the demand elastic, inelastic, or of unit elasticity at the indicated x-value?
The demand is elastic at this x-value.
The demand is inelastic at this x-value.
The demand is of unit elasticity at this x-value.
Use a graphing utility to graph the revenue function.
Identify the intervals of elasticity and inelasticity. (Enter your answers using interval notation. If an answer does not exist, enter DNE.)