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MarkFL

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Calc price elasticity problem and demand?

Suppose that 50000 people take city buses each day and pay for a ticket. A regression model suggests that the number of people taking city buses at price p dollars per ticket is given by

x=50000*sqrt(6−p)(a) Evaluate the price elasticity of demand at \$5 per ticket.

E(5)=

(b) For what value of p is the demand unitary?

p=

Here is a link to the question:

Calc price elasticity problem and demand? - Yahoo! Answers

I have posted a link there to this topic so the OP can find my response.