Question
A company has estimated its demand function as Q=220-4P in order to determine the effect of a possible price change. It would like to know
A company has estimated its demand function as Q=220-4P in order to determine the effect of a possible price change. It would like to know the price elasticity of demand at the $20 price it is currently charging The elasticity is
a. -4
b.-1
c.-0.5
d.4
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Quality Of The Environment An Economic Approach To Some Problems In Using Land, Water, And Air
Authors: Orris C Herfindahl, Allen V Kneese
1st Edition
1317386663, 9781317386667
