Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.
QUESTION
1) A pair of sunglasses has a demand function of p = 135 0.065q. How many pairs can be sold at $65 and what is the elasticity of demand?
1) A pair of sunglasses has a demand function of p = 135 − 0.065q. How many pairs can be sold at $65 and what is the elasticity of demand?
2) Two equations for price (p) and demand (q): q = 200 − sqrt(175p), p = 125. If the demand is inelastic, what is the value of elasticity of the price?
