Given the demand function qd=650-5P-P2whereP=10 determine the price electricity of demand
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44
Solution :-
Given that the demand function Qd = 650 - 5P - P²
Where P = 10
The Price Elasticity of Demand is calculated by substituting the value of P = 10 in the quantity demanded Qd = 650 - 5P - P²
⇒ Qd = 650 - (5*10) - (10)²²²
⇒ 650 - 50 - 100
⇒ 650 - 150
⇒ Qd = 500
Price Elasticity Demanded =
Change in Quantity demanded/Change in Price
⇒ 500/10
= 50 %
Answer.
Given that the demand function Qd = 650 - 5P - P²
Where P = 10
The Price Elasticity of Demand is calculated by substituting the value of P = 10 in the quantity demanded Qd = 650 - 5P - P²
⇒ Qd = 650 - (5*10) - (10)²²²
⇒ 650 - 50 - 100
⇒ 650 - 150
⇒ Qd = 500
Price Elasticity Demanded =
Change in Quantity demanded/Change in Price
⇒ 500/10
= 50 %
Answer.
Answered by
0
Answer:
Explanation: qd=650-5p-p2
P=10
qd=650-5(10)-10^2
qd=650-50-100
qd=600-100
qd=500
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