Question
The demand for a good is given by the equation =550/20 where q is the quantity demanded in millions of tonnes and p is the
The demand for a good is given by the equation
=550/20
where q is the quantity demanded in millions of tonnes and p is the price per tonne in dollars. What is the price elasticity of demand () when the good is sold for $712 per tonne?
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Managerial Economics A Problem Solving Approach
Authors: Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
4th edition
1305259335, 978-1305259331
