Posted by Rob on .
demand = (p+1)sqroot(q+1)=1000. Find elasticity of demand at a price of $39 per unit.
I am really struggling with this problem is there anyone that can help me?
i am not familiar with the terminology, but if you are trying to solve for p, it is not that hard
(p+1)√(p+1) = 1000
raise both sides to the 2/3 power
I am trying to solve for q not p.
sorry, I didn't mind my p's and q's, read them as p
q+1 = [1000/(p+1)]^2
q = [1000/(p+1)]^2 - 1