Afried chicken franchise finds that the demand equation for its new roast chicken product, "roasted rooster," is given by p = 45 / q 1.5
where p is the price (in dollars) per quarter-chicken serving and q is the number of quarter-chicken servings that can be sold per hour at this price.

1) express q as a function of p.

2) find the price elasticity of demand when the price is set at $4.00 per serving.

1.

2.

Step-by-step explanation:

The given demand equation is

where p is the price (in dollars) per quarter-chicken serving and q is the number of quarter-chicken servings that can be sold per hour at this price.

Part 1 :

We need to Express q as a function of p.

The given equation can be rewritten as

Using the properties of exponent, we get

Therefore, the required equation is .

Part 2 :

Differentiate q with respect to p.

Formula for price elasticity of demand is

Cancel out common factors.

Using the properties of exponents we get

Therefore, the price elasticity of demand is -2/3.

rick would give her the best deal as he will charge $8.88 per hour

bull

step-by-step explanation: