Same chapter3 marksDifficulty: Medium
Define the break-even point and the elasticity of demand.
Application of Calculus in Commerce and Economics
3 marksDifficulty: Medium
The demand function is x = 100 − 2p. Find the elasticity of demand when p = 20.
Original Khojo Papers practice question — not from a past board paper.
Answer
2/3
No citable source has been recorded for this record. Treat it as practice material, not as fact.
Explanation
dx/dp = −2, and at p = 20 the quantity is 60, so the elasticity is −(p/x)(dx/dp) = (20/60) × 2 = 2/3.
Related questions
From the same topic and chapter, at a similar level.
Same chapter3 marksDifficulty: Medium
The total cost of producing x units is C(x) = 2x2 + 10x + 50 and the revenue is R(x) = 40x. Find the level of output at which the profit is greatest.
Application of Calculus in Commerce and Economics
Same chapter3 marksDifficulty: Medium
If the total cost function is C(x) = 0.5x2 + 20x + 100, find the marginal cost when x = 10.
Application of Calculus in Commerce and Economics
Same chapter3 marksDifficulty: Medium
If the demand function is p = 50 − 2x, find the marginal revenue when x = 5.
Application of Calculus in Commerce and Economics
Same subject3 marksDifficulty: Medium
If A = [[1, 2], [3, 4]] and B = [[0, 1], [1, 0]], find AB and BA and state whether they are equal.
Matrices
Same subject3 marksDifficulty: Medium
Find the projection of a = 2i + 3j + 2k on b = i + 2j + k.
Vectors