The demand function for a certain brand of backpacks is p= 50 ln (50/x) for 0< x <= 50 where p is the unit price in dollars and x is the quantity (in hundreds) demanded per month.

a. Find the elasticity of demand, and determine the range of prices corresponding to inelastic, unitary, and elastic demand.
b. If the unit price is increased slightly from $50, will the revenue increase or decrease?

part a

x     y

0     8

1     7.5

2     7

3     6.5

4     6

5     5.5  

for every hour i deducted .5 inches from the length of the candle

part b

it is a function because for every x value there is only one y value

part   c

for every x value there is only one y value

x       y

0       8

1       7.6

2       7.2

3       6.8

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900 degrees

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