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प्रश्न
If the demand function is D = 50 – 3p – p2. Find the elasticity of demand at p = 5 comment on the result
उत्तर
Given, demand function is D = 50 – 3p – p2
∴ `"dD"/"dp" = 0 - 3 - 2"p"`
= `- 3 - 2"p"`
`eta = (-"p")/"D" * "dD"/"dp"`
∴ `eta = (-"p")/(50 - 3"p" - "p"^2) * (- 3 - 2"p")`
∴ `eta = (3"p" + 2"p"^2)/(50 - "3p" - "p"^2)`
When p = 5
`eta = (3(5) + 2(5)^2)/(50 - 3(5) - (5)^2)`
= `(15 + 50)/(50 - 15 - 25)`
= `65/10`
∴ η = 6.5
∴ elasticity of demand at p = 5 is 6.5
Here, η > 0
∴ The demand is elastic.
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