The demand function of a certain product is given by D(p)=√740-2P2 where x is price

[Casteye]

The demand function of a certain product is given by D(p)=√740-2P2 where x is price

The demand function of a certain product is given by D(p)=√740-2P² where x is price in dollars.a)Find the elasticity of demand for 15$. Then state if the demand is elastic or inelastic
b)Find the price for which total revenue will be a maximum

Everything I've come up with has not been working

 

[Casteye]

Can not figure out this problem for the life of me (Business Calc)

The demand function of a certain product is given by D(p)=√740-2P² where x is price in dollars.
a)Find the elasticity of demand for 15$. Then state if the demand is elastic or inelastic
b)Find the price for which total revenue will be a maximum



Everything I've tried has not made sense. Would appreciate any help.

 

[stapel]

The demand function of a certain product is given by D(p)=√740-2P² where x is the price in dollars.

As posted, the function is as follows:

. . . . .\(\displaystyle D(p)\, =\, \sqrt{\strut 740\,}\, -\, 2P^2\)

Was this what you meant? What is the relationship between "p" and "P", if any?

Also, you state "where x is the price in dollars", but your function contains no "x". What relationship were you given between "x" and the stated function and its two variables?

a) Find the elasticity of demand for $15. Then state if the demand is elastic or inelastic
b) Find the price for which total revenue will be a maximum

Everything I've come up with has not been working

Please reply showing what you "have come up with", so we can see where things are going wrong. Thank you!