Suppose that the demand for a product is given by p 1vq 1


Question: Suppose that the demand for a product is given by

(p + 1)√(q + 1) = 1000

(a) Find the elasticity when p = $39.

(b) Tell what type of elasticity this is.

(c) How would a price increase affect revenue?

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Microeconomics: Suppose that the demand for a product is given by p 1vq 1
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