Question
A demand function is given by the equation Q = 102 - 4P. Suppose the price is P = 9. At this price, find the
A demand function is given by the equation Q = 102 - 4P.
Suppose the price is P = 9.
At this price, find the price elasticity of demand. USE THE POINT SLOPE METHOD to find this elasticity. Hint: You'll have to find the quantity at this price as well. Round your answer to the nearest tenth.
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
