Question

if the demand function is given by D=15-4x-x2, find elasticity of demand w.r.t price when x=8

Answer 1

Step-by-step explanation:

2x + y = 600  y = 600 – 2x

3x – y = 400  y = 3x – 400

At equilibrium, Demand = Supply

 600 – 2x = 3x – 400

600 + 400 = 3x + 2x

1,000 = 5x

x =

1000

5

x = 200

Put x = 200 in y = 3x – 400,

y = 3(200) – 400

y = 600 – 400

y = 200