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Evaluating elasticity

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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 - ,

    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 - ,

    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.

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