Question
In Problems $31-34,$ use the price-demand equation to determine whether demand is elastic, is inelastic, or has unit elasticity are the indicated values of $p$.$x=f(p)=950-2 p-0.1 p^{2}$(A) $p=30$(B) $p=50$(C) $p=70$
Step 1
The elasticity of demand, $E$, is given by $E=-p \cdot \frac{f'(p)}{f(p)}$, where $f'(p)$ is the derivative of the price-demand function $f(p)$ and $f(p)$ is the price-demand function itself. Show more…
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