A garden shop determines the demand function q = D(x) = 5x + 200 / 30x + 11 during early summer for tomato plants where q is the number of plants sold per day when the price is x dollars per plant.
(a) Find the elasticity.
(b) Find the elasticity when x = 2.
(c) At $2 per plant, will a small increase in price cause the total revenue to increase or decrease?

a) , b) 0.7975, demand is inelastic, c) increase.

Step-by-step explanation:

Since we have given that

So, derivative w.r.t x would be

As we know that

(b) Find the elasticity when x = 2.

So, we put x = 2, we get that

Since, 0.7975 < 1, so the demand is inelastic.

(c) At $2 per plant, will a small increase in price cause the total revenue to increase or decrease?

The total revenue will also increase with increase in price.

As total revenue =

Hence, a) , b) 0.7975, demand is inelastic, c) increase.

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