Question
1. Economists in Champaign have been studying the local market for Truly. They've found that the demand for Truly can be described by the following
1.
Economists in Champaign have been studying the local market for Truly. They've found that the demand for Truly can be described by the following equation: P= 40 - 0.15Q.
What is the price elasticity of demand(using the Midpoint method) when moving from a quantity of 100 to 130? ( input your answer in absolute value, and round it to include 2 decimal places.)
2.
Economists in Champaign have been studying the local market for Truly. They've found that the demand for Truly can be described by the following equation: P= 40 - 0.15Q.
What is the price elasticity of demand(using the Midpoint method) when moving from a quantity of 20 to 30? ( input your answer in absolute value, and round it to include 2 decimal places.)
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Principles Of Microeconomics
Authors: N Gregory Mankiw
7th Edition
1305081676, 9781305081673
