Advertisements
Advertisements
प्रश्न
Find the price elasticity of demand for the demand function x = 10 – p where x is the demand p is the price. Examine whether the demand is elastic, inelastic, or unit elastic at p = 6.
Advertisements
उत्तर
The demand function is x = 10 – p
Price elasticity of demand,
`eta_"d" = - "p"/x * "dx"/"dp"`
x = 10 - p
`"dx"/"dp"` = 0 - 1 = - 1
`eta_"d" = - "p"/x * "dx"/"dp"`
`= - "p"/(10 - "p") xx (- 1)`
`= "p"/(10 - "p")`
Price elasticity of demand when p – 6 is ηd = `6/(10 - 6) = 6/4 = 1.5`
∴ |ηd| = 1.5 > 1, the demand is elastic.
APPEARS IN
संबंधित प्रश्न
Find the elasticity of demand in terms of x for the following demand laws and also find the value of x where elasticity is equal to unity.
p = a – bx2
Find the elasticity of supply for the supply function x = 2p2 + 5 when p = 3.
Find the values of x, when the marginal function of y = x3 + 10x2 – 48x + 8 is twice the x.
The cost function of a firm is C = x3 – 12x2 + 48x. Find the level of output (x > 0) at which average cost is minimum.
The total cost function for the production of x units of an item is given by C = 10 - 4x3 + 3x4 find the
- average cost function
- marginal cost function
- marginal average cost function.
Find the elasticity of supply when the supply function is given by x = 2p2 + 5 at p = 1.
For the demand function p x = 100 - 6x2, find the marginal revenue and also show that MR = p`[1 - 1/eta_"d"]`
Average fixed cost of the cost function C(x) = 2x3 + 5x2 – 14x + 21 is:
Relationship among MR, AR and ηd is:
For the cost function C = `1/25 e^(5x)`, the marginal cost is:
