🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →

HomeClass Notes1,200,000US530,000

MATH 110 Lecture 19: Elasticity vs. Total Revenue

41 views1 pages

cerisegiraffe538

28 Sep 2015

School

Department

Course

Professor

For unlimited access to Class Notes, a Class+ subscription is required.

Document Summary

Math 110 - lecture 19 - elasticity vs. total revenue. Given the demand equation p=144 x2 compute when the price is f (p)= . As a function of demand, x : As a function of price, p : Take the derivative with respect to p : R "( p)=1 f ( p)+ p f "( p) R "( p)=1+ pf " (p) f ( p) Total revenue is increasing which means r "( p)>0. If e( p)>1 then 0>1 e( p) which means r "( p)<0.

Related textbook solutions

Calculus

ISBN: 9781319050733

Single Variable Calculus: Early Transcendentals

4th Edition, 2018

ISBN: 9781337687805

CALCULUS:EARLY TRANSCENDENTALS

ISBN: 9781319050740

Related Documents

MATH 110 Lecture 23: Related Rates Practice

cerisegiraffe538

MATH 110 Lecture Notes - Lecture 53: Economic Surplus

cerisegiraffe538

MATH 110 Lecture Notes - Lecture 54: Demand Curve, Riemann Sum, Compound Interest

cerisegiraffe538

Related Questions

what are answers ?

Show transcribed image text Al boxes with a squaro base, an open top,and a volume of 210 1 have a surface area given by s),2. 860 where x is the length of the sides of the base. Find the absolute minimum of the surface area function on the interval (0,00). What are the dimensions of the box with minimum surface area? Determine the derivative of the given function S(x). s'(x) The absolute minimum value of the surface area function is Round to three decimal places as needed.) The dimensions of the box with minimum surface area are a base of length ft and a height of ft (Round to three decimal places as needed.)
Suppose a tour guide has a bus that holds a maximum of 82 people. Assume his profit (in dollars) for taking n people on a city tour is P(n) -n(41-0.5n)-82. (Although P is defined only for positive integers, treat it as a continuous function.) a. How many people should the guide take on a tour to maximize the profit? b. Suppose the bus holds a maximum of 37 people. How many people should be taken on a tour to maximize the profit? a. Find the derivative of the given function P(n). P (n)- If the bus holds a maximum of 82 people, the guide should take people on a tour to maximize the profit. b. If the bus holds a maximum of 37 people, the guide should take people on a tour to maximize the profit.
Economists use demand functions to describe how much of a commodity can be sold at varying prices. For example, the demand function D(p)-200-25p dD p says that at a price of p- 5, a quantity of D(6) -75 units of the commodily can be sold. The elasticty E do D of the demand gives the approximate percent change in the demand for every 1% change in the price. Complete parts (a) through (d). a. Compute the elasticity of the demand function D(p) 200-25p. b. If the price is S5 and increases by 6%, what is the approximate percent change in the demand? The percent change in demand is 96. (Round to one decimal place as needed.) c. Show that for the linear demand function DP = a-bp, where a and b are positive real numbers, the elasticity is a decreasing function for p 20 and p ta The elasticity is E(p)- Â·

Show transcribed image text

emeraldguinea-pig443