Answer:
So unit elastic at q = 5
inelastic above 5
and elastic below 5
Explanation:
The elasticity is determianted by the marginal revenue.
Our first goal is to find the marginal revenue function
p = 40 - 4q
total revenue(TR) = quantity times price
q x (40 - 4q) = -4q^2 +40q
marginal revenue TR(q)/d(q) = -8q + 40
Now, with this fuction the economic analisys states that a demand is unit elastic when marginal revenue is zero.
It will be inelastic below zero and elastic above zero
MR will be zero when q = 5
-8(5) + 40 = 0
As quantity increases the demand will be inelastic
while
Training is working hard and development is getting better
<u>Project management</u> includes the application of knowledge, skills, and tools to achieve a specific business objective.
Project management refers to the use of specific knowledge, tools, skills, and techniques in order to deliver something of value to people. For instance, developing software for an improved business process, relief effort after a natural disaster, construction of a building, the expansion of sales.
Project management goals are set to achieve a specific business objective through a successful development of the project's procedures of planning, initiation, execution, regulation and closure as well as the guidance of the project team's operations.
Hence, project management achieves a specific business objective.
To learn more about project management here:
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