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October 22, 2014

October 22, 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.

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