Demand curve elastic or inelastic at these points

Reference no: EM1328826

Point and Arc Elasticities

The demand function for a cola-type soft drink in general is Q = 20 - 2P, where Q stands for quantity and P stands for price.

a. Calculate point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points?

b. Calculate arc elasticity at the interval between P = 5 and P = 6.

c. At which price would a change in price and quantity result in approximately no change in total revenue? Why?

Reference no: EM1328826

Questions Cloud

Equal protection clause : Over 200 word essay and reference in regards to a person's Constitutional right to choose death.

Define the type of input data used : express the type of input data used for a business related function.

The greatest potential to disrupt a team''s ability : From the dysfunctions discussed in your readings, identify the three that have the greatest potential to disrupt a team's ability to meet its goals.

Explain about the value chain : The Value Chain - Are the the primary activities more important than the secondary activities or do they compliment each other?.

Demand curve elastic or inelastic at these points : Compute point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points.

Whether the death penalty is cruel : Over 200 word essay with reference in regards to whether or not the death penalty is cruel and unusual punishment.

Discuss collective bargaining methods : Please discuss collective bargaining methods.

Evaluate if you have used the appropriate measures : Evaluate if you have used the appropriate measures to research your business problem and identify the level of measurement being used for each

Show the supply chain strategies : Supply chain strategies - Offer your opinion as to whether or not it's the best strategy for the company or offer the changes you believe to be the better way to go.

User Account

All Pages