Friday

November 21, 2014

November 21, 2014

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

---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 4:42pmIsn'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 7:58amdx/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**

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...

Microecon - If you are given this function: P=1000-40Q where P=price and Q=sales...

economics - suppose the demand curve for a product is given by Q=10-2P+Ps1,where...

Calculus - When an electronics store prices a certain brand of stereos at p ...

Calculus - When an electronics store prices a certain brand of stereos at p ...

Economic Theory - What is the price elasticity of supply for your chosen ...

Economics - The Own price elasticity of demand for good X is -2, its income ...