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प्रश्न
Find the elasticity of demand, if the marginal revenue is 50 and price is Rs 75.
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उत्तर
Given, marginal revenue `("R"_"m") = 50` and price (P) = ₹ 75
using, Rm = p`(1 - 1/η)`
∴ 50 = 75 `(1 - 1/η)`
∴ `50/75 = 1 - 1/η`
∴ `2/3 = 1 - 1/η`
∴ `1/η = 1/3`
∴ η = 3
∴ elasticity of demand = 3
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संबंधित प्रश्न
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Fill in the blank:
A road of 108 m length is bent to form a rectangle. If the area of the rectangle is maximum, then its dimensions are _______.
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If 0 < η < 1, then the demand is ______.
If the average revenue is 45 and elasticity of demand is 5, then marginal revenue is ______.
State whether the following statement is True or False:
If the marginal revenue is 50 and the price is ₹ 75, then elasticity of demand is 4
The manufacturing company produces x items at the total cost of ₹ 180 + 4x. The demand function for this product is P = (240 − 𝑥). Find x for which profit is increasing
A manufacturing company produces x items at a total cost of ₹ 40 + 2x. Their price per item is given as p = 120 – x. Find the value of x for which profit is increasing
Solution: Total cost C = 40 + 2x and Price p = 120 − x
Profit π = R – C
∴ π = `square`
Differentiating w.r.t. x,
`("d"pi)/("d"x)` = `square`
Since Profit is increasing,
`("d"pi)/("d"x)` > 0
∴ Profit is increasing for `square`
Complete the following activity to find MPC, MPS, APC and APS, if the expenditure Ec of a person with income I is given as:
Ec = (0.0003)I2 + (0.075)I2
when I = 1000
If elasticity of demand η = 0 then demand is ______.
In a factory, for production of Q articles, standing charges are ₹500, labour charges are ₹700 and processing charges are 50Q. The price of an article is 1700 - 3Q. Complete the following activity to find the values of Q for which the profit is increasing.
Solution: Let C be the cost of production of Q articles.
Then C = standing charges + labour charges + processing charges
∴ C = `square`
Revenue R = P·Q = (1700 - 3Q)Q = 1700Q- 3Q2
Profit `pi = R - C = square`
Differentiating w.r.t. Q, we get
`(dpi)/(dQ) = square`
If profit is increasing , then `(dpi)/(dQ) >0`
∴ `Q < square`
Hence, profit is increasing for `Q < square`
