The demand for a product is given by $q=\frac{10}{\sqrt {4p+1}}$. find the marginal demand at p=6.
Worksheet i am solving contain all questions to find price elasticity of demand except above. And if i use formula of price elasticity then incorrect answer. Please help me.
Wow great. If anyone dont know even the formula. Then what to do?
Marginal demand: $\frac{dq}{dp}=\frac{-20}{(4p+1)^{3/2}}$.
Price elasticity of demand: $E_p=\frac{p}{q}\cdot \frac{dq}{dp}$.
Can you finish?