equation for the point elasticity as a function of quantity
Not what you're looking for?
3. The demand equation for a product is given by P =30 - 0.1Q²
a. Write an equation for the point elasticity as a function of quantity.
b. At what price is demand unitary elastic?
Purchase this Solution
Solution Summary
Point Elasticity is featured.
Solution Preview
a. since P =30 - 0.1Q²
the differential of P is
dP/dQ = -0.2Q
The formula of point elasticity is
E = ...
Purchase this Solution
Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium
The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.
Basics of Economics
Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.
Pricing Strategies
Discussion about various pricing techniques of profit-seeking firms.
Economic Issues and Concepts
This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.
Elementary Microeconomics
This quiz reviews the basic concept of supply and demand analysis.