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kirill115 [55]
3 years ago
12

The consumer demand equation for tissues is given by q = (94 − p)2, where p is the price per case of tissues and q is the demand

in weekly sales. (a) Determine the price elasticity of demand E when the price is set at $28.
Physics
1 answer:
oee [108]3 years ago
8 0

Answer:

E=0.848

Explanation:

Given that

q= (94-p)²

where p is the price per case of tissues and q is the demand in weekly sales

As we know that price elasticity of demand given as

E=-\dfrac{dq}{dp}.\dfrac{p}{q}

q= (94-p)²

\dfrac{dq}{dp}=- 2 (94-p)

E=2 (94-p)\dfrac{p}{(94-p)^2}.

When p =  $28

E=2 \dfrac{p}{(94-p)}.

E=2\times \dfrac{28}{(94-28)}.

E=0.848

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