Question

(1 point) Currently, 10,000 people take city buses each day and pay 2 dollars for a ticket. The number of people taking city buses at price \(p\) dollars per ticket is given \(x = 15000 - 3535\sqrt{p}\) (a) Evaluate the elasticity at 2. \(E(2) = -0.25\)

          (1 point) Currently, 10,000 people take city buses each day and pay 2 dollars for a ticket. The number of people taking city buses at price \(p\) dollars per ticket is given \(x = 15000 - 3535\sqrt{p}\)
(a) Evaluate the elasticity at 2.
\(E(2) = -0.25\)

(1 point) Currently, 10,000 people take city buses each day and pay 2 dollars for a ticket. The number of people taking city buses at price p dollars per ticket is given x = 15000 - 3535√(p)
(a) Evaluate the elasticity at 2.
E(2) = -0.25

Added by Jessica B.

Elementary and Intermediate Algebra

Alan S. Tussy, R. David Gustafson 5th Edition

Instant Answer

Solved by Expert Adi S

05/24/2023

Step 1

Step 1: To find the elasticity at price p=2, we need to use the formula for elasticity: E(p) = (p/x) * (dx/dp) Show more…

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Help me solve with steps. (1 point) Currently,10,000 people take city buses each day and pay 2 dollars for a ticket.The number of people taking city buses at price p dollars per ticket is given x = 15000 - 3535/p a)Evaluate the elasticity at 2 E(2)= .25