Nikolas H.

asked • 10/19/22

Demand Elasticity

The number Q of people taking city buses at price p dollars per ticket isQ=50006−p .

(a) Evaluate the demand elasticity E when p=5.

E(5)= 


(b) Currently, the price per ticket is 2 dollars. Should the price be raised in order to increase revenue?  ?? Yes No 

(c) For what value of p is the demand elasticity unitary?

p= 

(d) What is the maximum revenue?

Maximum Revenue = 


1 Expert Answer

By:

Jonathan T. answered • 10/26/23

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