Marginal Analysis Elasticity Course Packet on elasticity of

Last updated: 2/16/2024

Marginal Analysis Elasticity Course Packet on elasticity of demand Given the demand equation x 10 where p represents the price in dollars and x the number of units determine the elasticity of demand when the price p is equal to 2 20 P Elasticity of Demand Therefore demand is O elastic O unitary Oinelastic when price is equal to 2 and a small increase in price will result in O little to no change in total revenue O a decrease in total revenue O an increase in total revenue