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Previous Page Next Page Page 5 of 15 Question 5 (8 points) Suppose that the demand and supply functions for a good are given as

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Previous Page Next Page Page 5 of 15 Question 5 (8 points) Suppose that the demand and supply functions for a good are given as follows: Demand: QP = 720 -8P Supply: 95 = -160 +3P What is the price elasticity of demand at the equilibrium when there is no tax? 0 4 O 0.5 1.25 1 8 Previous Page Next Page Page 5 of 15

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