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Thread: Emergency Math Question

  1. #21
    Movember '12 Best Facial Hair Movember 2012Donor Lallante's Avatar
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  2. #22
    Donor Lorkin Desal's Avatar
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    Price is elastic if change in the quantity demanded of is smaller then change in its price.

    Therefore.

    where p= 25
    x=2500-(25x25)
    x-1.20224

    where p=27.50
    x=2500-(27.5x27.5)
    x= a number that is smaller by 30.25%

    So the good is elastic. I think. Its been a decade since i did this nonsense.
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    Keckers's Avatar
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    It doesn't take off
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    Super Baderator DonorGlobal Moderator cullnean's Avatar
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  7. #27
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