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Point elasticity of demand

Three Peaks Ski resort has estimate the following demand curve for their lift ticket

Q=7000-160P+40A

Where Q= weekly number of lift tickets, P=price pf lift ticket, A=number of newspaper ads week

problem:

A. The Three Peaks charges $25 per ticket and has 5 advertisement notices in the local newspapers. How many lift tickets do they expect to sell

B. Keeping the advertisement level the same (at 5), find out the point(price) elasticity at the above price ($25 per ticket)

C. Determine the point elasticity of demand with respect to advertisement

 

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M925823

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