Posted by **Miranda** on Saturday, March 14, 2009 at 3:46pm.

The demand function for a certain item is x = 35(sqrt(32-p^2))

---Evaluate the elasticity at 5. E(5)=

I don't know how to find elasticity, so i don't know how to start this problem. If someone could explain elasticity i think that i could figure it out.

- Evaluating elasticity -
**bobpursley**, Saturday, March 14, 2009 at 4:42pm
Isn'n

Elasticity = - ddemand/dprice * P/q ?

so here

elasticity= - dx/dp * p/x

I assume you can take the derivative, put p=5 (and x(5)) and compute E.

- Evaluating elasticity -
**drwls**, Sunday, March 15, 2009 at 7:58am
dx/dp = 35*(1/2)*(-2p)/sqrt(32-p^2)

= -35/sqrt(32-p^2)

Now evaluate E(x) = -(p/x)* (dx/dp)

@ p=5

x(5) = 35 sqrt 5

and put it all together.

A few numbers will cancel, simplifying the result.

## Answer This Question

## Related Questions

- Calculus - Equation: Suppose that the demand of a certain item is x = -0.7 p + ...
- Economics - 1.calculate the price elasticity of demand when the price was ...
- Elasticity Demand Calculus - Find the elasticity of the demand function: pq = ...
- Managerial Economic - Mr. Smith has the following demand equation for a certain ...
- managerial economics - Explain the relationship between product X, product Y and...
- managerial economics - 4. The equation for a demand curve has been estimated to ...
- Economics - How is elasticity of supply related to elasticity of demand? Is this...
- Economic Theory - What is the price elasticity of supply for your chosen ...
- Math - Given the function q=D(x)=k/x^n where k is a positive constant and n is ...
- Microecon - If you are given this function: P=1000-40Q where P=price and Q=sales...

More Related Questions