Answer to Question #74291 in Microeconomics for Zulfiqar Ali
P = 30 - 0.1q^2 .
(a)At what point price is demand inelastic?
(b)at what price is demand unitary elastic
(a) At what point price is demand inelastic?
P for q = 15 is;
As demand is inelastic, when price is $7.5 and quantity demanded is 15.
(b) At what price is demand unitary elastic
MR = 0, so q is:
q = 10
Then, demand unitary elastic when price is:
P = $20
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The demands equation is given by P=30-0.1Q^2.what what price is demand unitary elastic