Exercise 1 | Wiskunde op Tilburg University

Consider the demand function

$D(p)$ . It is know that

$D(4)=3$ . Furthermore,

$\epsilon^D=-5$ at

$p=4$ . Determine

$\epsilon^p$ at

$D=3$ .

Antwoord 1 correct

Correct

Antwoord 2 optie

$5$ .

Antwoord 2 correct

Fout

Antwoord 3 optie

$\dfrac{1}{5}$

Antwoord 3 correct

Fout

Antwoord 4 optie

$-5$

Antwoord 4 correct

Fout

Antwoord 1 optie

$-\dfrac{1}{5}$

Antwoord 1 feedback

Correct:

$\epsilon^p=\frac{1}{\epsilon^D}=\frac{1}{-5}=-\frac{1}{5}$ .

Go on.

Antwoord 2 feedback

Wrong:

$\epsilon^p\neq -\epsilon^D$ .

See Applications 2: Elasticity and inverse.

Antwoord 3 feedback

Wrong:

$\epsilon^p\neq -\frac{1}{\epsilon^D}$ .

See Applications 2: Elasticity and inverse.

Antwoord 4 feedback

Wrong:

$\epsilon^p\neq \epsilon^D$ .

See Applications 2: Elasticity and inverse.