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प्रश्न
Find the price, if the marginal revenue is 28 and elasticity of demand is 3.
उत्तर
Given, marginal revenue (Rm) = 28 and
elasticity of demand (η) = 3
`"R"_"m" = "P"(1 - 1/eta)`
∴ `28 = "P" (1 - 1/3)`
∴ 28 = `"P" (2/3)`
∴ `(28 xx 3)/2` = P
∴ P = 42
∴ price = ₹ 42
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Fill in the blank:
A road of 108 m length is bent to form a rectangle. If the area of the rectangle is maximum, then its dimensions are _______.
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The manufacturing company produces x items at the total cost of ₹ 180 + 4x. The demand function for this product is P = (240 − 𝑥). Find x for which profit is increasing
A manufacturing company produces x items at a total cost of ₹ 40 + 2x. Their price per item is given as p = 120 – x. Find the value of x for which elasticity of demand for price ₹ 80.
Solution: Total cost C = 40 + 2x and Price p = 120 – x
p = 120 – x
∴ x = 120 – p
Differentiating w.r.t. p,
`("d"x)/("dp")` = `square`
∴ Elasticity of demand is given by η = `- "P"/x*("d"x)/("dp")`
∴ η = `square`
When p = 80, then elasticity of demand η = `square`
Complete the following activity to find MPC, MPS, APC and APS, if the expenditure Ec of a person with income I is given as:
Ec = (0.0003)I2 + (0.075)I2
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