The demand equation for the Roland portable hairdryer is given as follows where x (measured in units of a hundred) is the quanti

Question

3 years ago

13

ty demanded per week and p is the unit price in dollars. Is the demand elastic or inelastic when p = 5?

1 answer:

lesya [120] · Answer 1 · 2021-12-25T10:40:54+03:00

6 0

Answer:

Explanation:

The concept of elastic and inelastic demand is applied.

for an elastic demand, the elasticity must be greater than 1 and for an Inelastic demand, the elasticity must be less than 1.

The steps and appropriate calculation is as shown in the attached file.