QuestionJuly 17, 2025

Question 3 (1 point) Find the elasticity. q=D(x)=(1200)/(x) E(x)=(1)/(x) E(x)=1 E(x)=(x)/(1200) E(x)=(1200)/(x)

Question 3 (1 point) Find the elasticity. q=D(x)=(1200)/(x) E(x)=(1)/(x) E(x)=1 E(x)=(x)/(1200) E(x)=(1200)/(x)
Question 3 (1 point) Find the elasticity. q=D(x)=(1200)/(x) E(x)=(1)/(x) E(x)=1 E(x)=(x)/(1200) E(x)=(1200)/(x)

Solution
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Answer

E(x) = -1 Explanation 1. Identify the elasticity formula Elasticity E(x) is defined as E(x) = \frac{dD/dx}{D(x)/x}. 2. Calculate derivative of demand function Given D(x) = \frac{1200}{x}, find \frac{dD}{dx} = -\frac{1200}{x^2}. 3. Apply elasticity formula Substitute into E(x) = \frac{-\frac{1200}{x^2}}{\frac{1200}{x}/x} = \frac{-\frac{1200}{x^2}}{\frac{1200}{x^2}} = -1.

Explanation

1. Identify the elasticity formula<br /> Elasticity $E(x)$ is defined as $E(x) = \frac{dD/dx}{D(x)/x}$.<br /><br />2. Calculate derivative of demand function<br /> Given $D(x) = \frac{1200}{x}$, find $\frac{dD}{dx} = -\frac{1200}{x^2}$.<br /><br />3. Apply elasticity formula<br /> Substitute into $E(x) = \frac{-\frac{1200}{x^2}}{\frac{1200}{x}/x} = \frac{-\frac{1200}{x^2}}{\frac{1200}{x^2}} = -1$.
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