Advertisements
Advertisements
Question
If the demand function is said to be inelastic, then:
Options
|ηd| > 1
|ηd| = 1
|ηd| < 1
|ηd| = 0
Solution
|ηd| > 1
APPEARS IN
RELATED QUESTIONS
A firm produces x tonnes of output at a total cost of C(x) = `1/10x^3 - 4x^2 - 20x + 7` find the
- average cost
- average variable cost
- average fixed cost
- marginal cost and
- marginal average cost.
The demand function of a commodity is p = `200 - x/100` and its cost is C = 40x + 120 where p is a unit price in rupees and x is the number of units produced and sold. Determine
- profit function
- average profit at an output of 10 units
- marginal profit at an output of 10 units and
- marginal average profit at an output of 10 units.
The total cost function y for x units is given by y = 3x`((x+7)/(x+5)) + 5`. Show that the marginal cost decreases continuously as the output increases.
Find the price elasticity of demand for the demand function x = 10 – p where x is the demand p is the price. Examine whether the demand is elastic, inelastic, or unit elastic at p = 6.
The total cost function for the production of x units of an item is given by C = 10 - 4x3 + 3x4 find the
- average cost function
- marginal cost function
- marginal average cost function.
Find out the indicated elasticity for the following function:
p = xex, x > 0; ηs
For the demand function p x = 100 - 6x2, find the marginal revenue and also show that MR = p`[1 - 1/eta_"d"]`
For the cost function C = `1/25 e^(5x)`, the marginal cost is:
Profit P(x) is maximum when
The demand function is always
