Math - Limits/Derivatives

If a price-demand equation is solved for p, then price is expressed as p = g(x) and x becomes the independent variable. In this case, it can be shown that the elasticity of demand is given by E(x) = - [g(x) / xg'(x)]. Use the given price-demand equation to find the values of x for which demand is elastic and for which demand is inelastic.
p = g(x) = 12960 - 0.1x^2

I am really stuck on this question and don't know how to start, could someone please show me?

  1. 👍 0
  2. 👎 0
  3. 👁 141
asked by Jess
  1. you have to remember that inelastic means that E(x) > 0
    (I think)

    E(x) = -[(12960-.1x^2)/(-.2x^2)]
    = 64800/x^2 - .5

    E(x) > 0 means x < 360

    That sound familiar? Or am I way off base here?

    1. 👍 0
    2. 👎 0
    posted by Steve

Respond to this Question

First Name

Your Response

Similar Questions

  1. Further calculus

    1) A price p (in dollars) and demand x for a product are related by 2x^2+6xp+50p^2=10600. If the price is increasing at a rate of 4 dollars per month when the price is 30 dollars, find the rate of change of the demand. 2) a) The

    asked by Alison on November 2, 2011
  2. Math

    Could someone work this question out so I understand it. Thanks The marginal price dp/dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $100 per unit [p(0)=100], and there is

    asked by Jules on April 25, 2011
  3. Business Math

    3.) The demand equation for a certain product is q=500-40p+p^2 here p is the price per unit (in dollars) and q is the quantity of units demanded (in thousands). Find the point elasticity of demand when p = 15. If this price of 15

    asked by pypski on December 15, 2016
  4. Calculus

    The consumer demand equation for tissues is given by q = (97 − p)2, where p is the price per case of tissues and q is the demand in weekly sales. (a) Determine the price elasticity of demand E when the price is set at $26.

    asked by Megan on October 28, 2015
  5. Math

    Could someone answer this question so I understand it. Thanks The marginal price dp/dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $100 per unit [p(0)=100], and there is a

    asked by Anonymous on April 28, 2011
  6. Math

    Could someone work this question out so I understand it. Thanks The marginal price dp/dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $100 per unit [p(0)=100], and there is

    asked by Jules on April 29, 2011
  7. Math

    Could someone work this question out so I understand it. Thanks The marginal price dp/dx at x units of demand per week is proportional to the price p. There is no weekly demand at a price of $100 per unit [p(0)=100], and there is

    asked by Jules on April 29, 2011
  8. calc

    I have everything right but the last question asking how many cases per week The consumer demand equation for tissues is given by q = (97 − p)2, where p is the price per case of tissues and q is the demand in weekly sales. (a)

    asked by Kyle on October 28, 2013
  9. brief calculus

    I have everything right but the last question asking how many cases per week The consumer demand equation for tissues is given by q = (97 − p)^2, where p is the price per case of tissues and q is the demand in weekly sales. (a)

    asked by Kyle on October 29, 2013
  10. Economics

    1.calculate the price elasticity of demand when the price was increased from R25 to R40 ? (10) 2.is a price increase the correct decision to raise revenue?substantiate your answer using the price elasticity of demand and income

    asked by Setumbo on March 31, 2016

More Similar Questions