Mathematics 1 Deneme Sınavı Sorusu #1207597

If the demand function of a particular commodity is given by p(q)=900-q/3 what is the price when demand is of unit elastic?


900

175

450

270

350


Yanıt Açıklaması:

Let us write the demand function for q

q=2700-3p

Taking the derivative with respect to p we get

dq/dp = -3

The price elasticity of demand is

From this equation we can easily write the price for the unit elasticity which is 

1=3p/(2700-3p)

and the sought for price is p=450. Therefore, the answer is C.

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