The quantity q of cabbages sold by a farmer at a farmers


The quantity q of cabbages sold by a farmer at a farmer's market depends on price p in dollars. The variables q and p are related by the equation q^2+2p^2+5xy=2000. Find the elasticity of demand when p=3. Interpret your answer. Is demand elastic, inelastic, or unitary at this price? Should the farmer increase or decrease the price of cabbages?

Request for Solution File

Ask an Expert for Answer!!
Business Economics: The quantity q of cabbages sold by a farmer at a farmers
Reference No:- TGS01549629

Expected delivery within 24 Hours