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Price Elasticity of Demand Help

  1. Jun 18, 2011 #1
    q= (39/3.6)^2/3

    p=(39/(3.6^3/2)

    Find price elasticity of demand when p=$3.6. I already substituted the 3.6 in there.

    I keep getting 1.5 but its saying it wrong please solve and help.
     
  2. jcsd
  3. Jun 18, 2011 #2

    Pyrrhus

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    Could you post the complete problem statement?

    you know that elasticity is defined as a logarithmic derivative

    [itex] \epsilon = \frac{\partial \ln y}{\partial \ln x} [/itex]
     
    Last edited: Jun 18, 2011
  4. Jun 19, 2011 #3

    HallsofIvy

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    By "already substituting the 3.6 in there", you have made it impossible to answer. We need to know the demand as a function of the proce.

     
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