Question
Use the price demand equation below to find \( E(p) \), the elasticity of demand.
\( x=f(p)=5100-3 p^{2} \)
\( E(p)=\square \)

Use the price demand equation below to find \( E(p) \), the elasticity of demand. \( x=f(p)=5100-3 p^{2} \) \( E(p)=\square \)

Ask by Black Morgan.
Mar 03,2025 02:48

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Answer

\( E(p) = -\frac{6p²}{5100 - 3p²} \)

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Beyond the Answer

To find the elasticity of demand \( E(p) \), we can use the formula for price elasticity of demand: \[ E(p) = \frac{f'(p) \cdot p}{f(p)} \] First, we need to find \( f'(p) \), the derivative of \( f(p) \): \[ f(p) = 5100 - 3p^2 \implies f'(p) = -6p \] Next, we substitute \( f(p) \) and \( f'(p) \) into the elasticity formula: \[ E(p) = \frac{-6p \cdot p}{5100 - 3p^2} = \frac{-6p^2}{5100 - 3p^2} \] Thus, the elasticity of demand is: \[ E(p) = \frac{-6p^2}{5100 - 3p^2} \] So, whatever value of \( p \) you plug in, you'll get the elasticity of demand \( E(p) \) calculated accordingly!
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