A) If q=100-4p where p=price and q= quantity demanded, find the point elasticity of demand at p=10 and comment on its value
B) If the market demand function is qd = 60-6p and the market supply function is qs = -3+15p, where p = price and qd = = quantity demand and qs = quantity supplied find the equilibrium price and quantity
C) If ac - 400 - 30q + 2q(squared), where ac = average cost and q = quantity, find the total cost (tc) and marginal cost (mc)functions.© BrainMass Inc. brainmass.com October 9, 2019, 8:11 pm ad1c9bdddf
A) IF Q=100-4P WHERE P=PRICE AND Q= QUANTITY DEMANDED, FIND THE POINT ELASTICITY OF DEMAND AT P=10 AND COMMENT ON ITS VALUE
dQ/dP = -4
Since the value of elasticity is less ...
Demand, Elasticity and Marginal Costs are investigated. The solution is detailed and well presented. The response received a rating of "5/5" from the student who originally posted the question.