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Mathematics 1
Mathematics 1 Deneme Sınavı
Mathematics 1 Deneme Sınavı Sorusu #1207353
Mathematics 1 Deneme Sınavı Sorusu #1207353
If the demand function of a particular commodity is given by p(q)=350-(q/5) what is the price when the demand is of unit elastic?
|
175 |
|
150 |
|
275 |
|
135 |
|
275 |
Yanıt Açıklaması:
Let us write the demand function for q
q=1750-5p
Taking the derivative with respect to p we get
dq/dp = -5
The price elasticity of demand is
From this equation we can easily write the price for the unit elasticity which is
1=5p/(1750-5p)
and the sought for price is p=175. Therefore, the answer is A.
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