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Suppose that Demand is D = 10-2P, where P is the price.

(a) Evaluate the elasticity of demand at P = 2.

(b) Evaluate the elasticity of Demand at P = 3.

(c) Write the marginal revenue, evaluated at these two prices.

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Yusra Anees
Yusra AneesLv10
28 Sep 2019
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Question 3. (20 marks) The demand for electric cars is given by D(P) = 400p-1.5. (a) Find the elasticity of demand in the "usual way” (b) Find the elasticity of demand using logarithmic differentiation. (c) Evaluate this elasticity at p=1. (d) Suppose a monopolist faces a revenue curve given by R(p) = px D(p). Find the elasticity of revenue.

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