Purchase Solution

Partial derivatives and price elasticity

Not what you're looking for?

Ask Custom Question

1. Determine the partial derivatives with respect to all of the variables in the following functions:

a.

b.

2. A company hires you as the marketing consultant to estimate the demand function for its product. You have concluded the demand function is

Where Q is the quantity demanded per capita per month, P is the product's price (in dollars).
a. What is the price elasticity of demand?
b. Suppose you propose the selling price to be $200, what will be the associated marginal revenue?

Purchase this Solution

Solution Summary

The expert examines partial derivatives and price elasticity.

Solution Preview

b)

2. Given the demand function as
a) By definition the price ...

Purchase this Solution


Free BrainMass Quizzes
Solving quadratic inequalities

This quiz test you on how well you are familiar with solving quadratic inequalities.

Graphs and Functions

This quiz helps you easily identify a function and test your understanding of ranges, domains , function inverses and transformations.

Know Your Linear Equations

Each question is a choice-summary multiple choice question that will present you with a linear equation and then make 4 statements about that equation. You must determine which of the 4 statements are true (if any) in regards to the equation.

Exponential Expressions

In this quiz, you will have a chance to practice basic terminology of exponential expressions and how to evaluate them.

Multiplying Complex Numbers

This is a short quiz to check your understanding of multiplication of complex numbers in rectangular form.