Consider the demand curve D(p) = 10 − 3p. What is the elasticity at price ?

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Solution

D(p) = 10 − 3p

Change in demand per unit change in price

At price p =,

i.e., the elasticity of demand at price p = is unitary elastic.

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Similar questions

Consider the demand curve D(p) = 10 - 3p. What is the elasticity at price $\frac{5}{3}$ ?

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When the slope of demand curve =

\infty

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Suppose there are 20 consumers for a good and they have identical demand d(p) = 10 - 3p for any price less than or equal to $\frac{10}{3}$ and $d_{1}$ (p)=0 at any price greater than $\frac{10}{3}$ . What is the market demand function?

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Consider the demand curve D(p) = 10 − 3p. What is the elasticity at price ?

D(p) = 10 − 3p Change in demand per unit change in price At price p =, i.e., the elasticity of demand at price p = is unitary elastic.

D(p) = 10 − 3p

Change in demand per unit change in price

At price p =,

i.e., the elasticity of demand at price p = is unitary elastic.