Posted by
**Rob** on
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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

(p+1)^(3/2)=1000

raise both sides to the 2/3 power

to get

p+1=1000^(2/3)

.

.

p=

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)^(1/2)=1000/(p+1)

q+1 = [1000/(p+1)]^2

q = [1000/(p+1)]^2 - 1

thank you!