Maths: Integral Calculus: Application of Integration in Economics and Commerce: Solved Problems with Answer, Solution, Formula

The demand functions from elasticity of demand

Elasticity of the function *y* = *f* ( *x*) at a point *x* is defined as the limiting case of ratio of the relative change in *y* to the relative change in *x* .

Equation yields the demand function â€˜pâ€™ as a function of x.

The revenue function can be found out by using integration.

Example 3.25

When the Elasticity function is x / x-2 Find the function when *x* = 6 and *y* = 16.

*Solution:*

Example 3.26

The elasticity of demand with respect to price *p* for a commodity is . Find demand function where price is â‚¹5 and the demand is 70.

*Solution*

Tags : Example Solved Problems with Answer, Solution, Formula , 12th Business Maths and Statistics : Chapter 3 : Integral Calculus - II

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12th Business Maths and Statistics : Chapter 3 : Integral Calculus - II : Integration: The demand functions from elasticity of demand | Example Solved Problems with Answer, Solution, Formula

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