Demand Function – NBC Institute

QTB – MAY 2016 – L1 – SA – Q3 – Mathematics

Calculate elasticity of demand given a demand function

Question

The demand function for an item is given by p = 32q − q2. Find the elasticity of demand at q = 4

A. -0.17

B. 1.00

C. 1.11

D. 1.17

E. 1.20

Answer

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Tags: Demand Function, Economic Calculations, Elasticity
Level: Level 1

Topic: Mathematics
Series: MAY 2016

QTB – Nov 2015 – L1 – SB – Q2a – Mathematics of Business Finance

Calculate price elasticity of demand using given demand function and interpret the result.

Question

Given that the demand function of a business is

calculate the price elasticity of demand when and interpret your result.

(Total: 6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Economics, Demand Function, Elasticity, Price Change
Level: Level 1

Topic: Mathematics of Business Finance
Series: NOV 2015

QT – Nov 2018 – L1 – Q2c – Elements of Calculus

Determine and interpret the elasticity of demand at different price levels for kente strips.

Question

Due to changes in market conditions, the company finds the demand $q$ (in thousands) for their kente strips to be of GH¢ per kente strip.

Required:
(i) Determine the elasticity of demand when the price is GH¢5 and when the price is GH¢15 per kente strip. (6 marks)
(ii) Comment on your results in (i). (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Demand Function, Elasticity of Demand, Market conditions, Price
Level: Level 1

Topic: Elements of Calculus
Series: NOV 2018

QTB – MAY 2016 – L1 – SA – Q3 – Mathematics

Calculate elasticity of demand given a demand function

Question

The demand function for an item is given by p = 32q − q2. Find the elasticity of demand at q = 4

A. -0.17

B. 1.00

C. 1.11

D. 1.17

E. 1.20

Answer

Find Related Questions by Tags, levels, etc.

Tags: Demand Function, Economic Calculations, Elasticity
Level: Level 1

Topic: Mathematics
Series: MAY 2016

QTB – Nov 2015 – L1 – SB – Q2a – Mathematics of Business Finance

Calculate price elasticity of demand using given demand function and interpret the result.

Question

Given that the demand function of a business is

calculate the price elasticity of demand when and interpret your result.

(Total: 6 Marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Business Economics, Demand Function, Elasticity, Price Change
Level: Level 1

Topic: Mathematics of Business Finance
Series: NOV 2015

QT – Nov 2018 – L1 – Q2c – Elements of Calculus

Determine and interpret the elasticity of demand at different price levels for kente strips.

Question

Due to changes in market conditions, the company finds the demand $q$ (in thousands) for their kente strips to be of GH¢ per kente strip.

Required:
(i) Determine the elasticity of demand when the price is GH¢5 and when the price is GH¢15 per kente strip. (6 marks)
(ii) Comment on your results in (i). (2 marks)

Answer

Find Related Questions by Tags, levels, etc.

Tags: Demand Function, Elasticity of Demand, Market conditions, Price
Level: Level 1

Topic: Elements of Calculus
Series: NOV 2018

Question Tag: Demand Function

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QTB – MAY 2016 – L1 – SA – Q3 – Mathematics

Calculate elasticity of demand given a demand function

QTB – Nov 2015 – L1 – SB – Q2a – Mathematics of Business Finance

Calculate price elasticity of demand using given demand function and interpret the result.

QT – Nov 2018 – L1 – Q2c – Elements of Calculus

Determine and interpret the elasticity of demand at different price levels for kente strips.

QTB – MAY 2016 – L1 – SA – Q3 – Mathematics

Calculate elasticity of demand given a demand function

QTB – Nov 2015 – L1 – SB – Q2a – Mathematics of Business Finance

Calculate price elasticity of demand using given demand function and interpret the result.

QT – Nov 2018 – L1 – Q2c – Elements of Calculus

Determine and interpret the elasticity of demand at different price levels for kente strips.

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QTB – MAY 2016 – L1 – SA – Q3 – Mathematics

Calculate elasticity of demand given a demand function

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QTB – Nov 2015 – L1 – SB – Q2a – Mathematics of Business Finance

Calculate price elasticity of demand using given demand function and interpret the result.

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QT – Nov 2018 – L1 – Q2c – Elements of Calculus

Determine and interpret the elasticity of demand at different price levels for kente strips.

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QTB – MAY 2016 – L1 – SA – Q3 – Mathematics

Calculate elasticity of demand given a demand function

You're reporting an error for "QTB – MAY 2016 – L1 – SA – Q3 – Mathematics"

QTB – Nov 2015 – L1 – SB – Q2a – Mathematics of Business Finance

Calculate price elasticity of demand using given demand function and interpret the result.

You're reporting an error for "QTB – Nov 2015 – L1 – SB – Q2a – Mathematics of Business Finance"

QT – Nov 2018 – L1 – Q2c – Elements of Calculus

Determine and interpret the elasticity of demand at different price levels for kente strips.

You're reporting an error for "QT – Nov 2018 – L1 – Q2c – Elements of Calculus"

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