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Suppose that Sally's demand curve for coffee (in cups/day) is given by P = 1 - 2Q. Calculate the price elasticity of demand if the
Suppose that Sally's demand curve for coffee (in cups/day) is given by P = 1 - 2Q. Calculate the price elasticity of demand if the price is equal to $4 per cup.
Hi, I have the above question in a textbook. My question is, according to the question, if the price is $4, the quantity demanded will be negative. Is this possible? And if so, what is the price elasticity of demand in this case? Thanks so much!
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