[C.3] Elasticity
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Lesson Description:
Learn about elasticity and how to find the optimum price and maximum revenue for a situation using numerical derivatives, tables, and graphs on a TI graphing calculator.
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Questions answered by this video:
- How can you find the maximum revenue for a Calculus price problem?
- How do you find elasticity in a TI graphing calculator?
- How can you use functions and the table on a TI graphing calculator to find the price for which a situation is elastic to maximize the revenue?
- How can you graph lines of functions and use the intersect function to find the price to maximize revenue in a situation on a TI graphing calculator?
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Staff Review
This lesson explains how to find elasticity in a TI graphing calculator. The steps involved in putting the necessary variables and performing computations in the calculator are shown for this involved word problem. Make sure you have an understanding of elasticity before learning how to find the values in the graphing calculator, though.
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