Evaluating elasticity
posted by Miranda .
The demand function for a certain item is x = 35(sqrt(32p^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.

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. 
dx/dp = 35*(1/2)*(2p)/sqrt(32p^2)
= 35/sqrt(32p^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.
Respond to this Question
Similar Questions

Economic Theory
What is the price elasticity of supply for your chosen industry? 
Economics
How is elasticity of supply related to elasticity of demand? 
managerial economics
Explain the relationship between product X, product Y and product Z or the properties of each according to the following statements a. Cross price elasticity between X and Y is 4 b. Cross price elasticity between X and Y is 12 c. … 
managerial economics
4. The equation for a demand curve has been estimated to be Q = 100 – 10P + 0.5Y where Q is quantity, P is price, and Y is income. Assume that P = 7 and Y = 50. a. Interpret the equation. b. What is price elasticity at P = 7 and … 
MircoEcon
Agree or disagree with this statements and explain: If the demand for a good has unitary elasticity, or elasticity is 1, it is always true that an increase in its price will lead to more revenues for sellers taken as a whole. 
Managerial Economic
Mr. Smith has the following demand equation for a certain product: Q = 30  2P. a. At price of $7, what is point elasticity? 
Elasticity Demand Calculus
Find the elasticity of the demand function: pq = 42 p=$2 My professor went through this lesson really fast and I would appreciate anyone's help in explaining it. Thank You 
Economics
1.calculate the price elasticity of demand when the price was increased from R25 to R40 ? 
Calculus
Equation: Suppose that the demand of a certain item is x = 0.7 p + 20. Evaluate the elasticity at E = 8. I'm not sure what steps to take to solve this. I know that elasticity is equal to the absolute value of [(p/q) x (dp/dq)] 
calculus
Elasticity a) Find the elasticity of the demand function q + 2p = 5000 when p = $1000, and q = 3000. b) How would revenue be affected by a price increase?