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Mathematics 1
Mathematics 1 Deneme Sınavı
Mathematics 1 Deneme Sınavı Sorusu #1207597
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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