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# Worksheet_4 - Worksheet#4 Bus 14B It might be easier for...

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14B_Worksheet__4_Elasticity_and_Curve_Sketching December 10, 2010 Worksheet #4 Bus 14B It might be easier for you to write on this answer sheet, than scan sheet and send as a jpeg or pdf file. Show all work on this sheet. Please do not submit more than these two sheets. Part A: Given a demand function: D(x) = -.6X + 96 or p = -.6X + 96 a) Rewrite and graph the demand function with “p” as the independent variable. f) On the graph of D(p) and R(p), label the areas of inelasticity, unit, and elastic. g) When the price changes from \$83 to \$35, find the percent change in quantity, the percent change in price, and the elasticity. b) Write and graph the revenue function with “p” as the independent variable. h) Find the quantity and price to maximize revenue. Also find the max revenue. c) Give the formula to find E(p) for this specific demand function. i) Find a video on www.youtube.com dealing with elasticity. Give the source and list six bullet points with information learned from this video. Evaluate the video.

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