Point Elasticity of Demand with a Derivative
This lesson is part of the course
In this lesson
You model Kestrel's helmet demand with an exponential curve, estimate dQ/dp numerically, turn it into the point elasticity and find the price where revenue peaks.
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Lessons in this course
- Average vs Instantaneous Rate: The Difference Quotient Locked
- Numerical Derivative Table & the Tangent Line Locked
- Marginal Cost, Revenue & Profit Locked
- Optimisation: Find the Profit Maximum Locked
- Point Elasticity of Demand with a Derivative Locked
- Numerical Integration: Trapezoid & Simpson vs Exact Locked
- Area Between Curves & Consumer Surplus Locked
- Growth & Decay with e: Continuous Compounding & Half-Life Locked