Question
The demand for a Sony PlayStation5 console is P = 400 - 0.02Q where P represents the per PlayStation5 console (in dollars) and Q is
The demand for a Sony PlayStation5 console is P = 400 - 0.02Q where P represents the per PlayStation5 console (in dollars) and Q is the number of PlayStation 5 consoles sold. If price of each console is $300, what is the price elasticity of demand for Sony PlayStation5 consoles?
Group of answer choices
-0.33
-1.50
-1
-0.02
-3.00
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Contemporary Labor Economics
Authors: Campbell R. McConnell, Stanley L. Brue, David Macpherson
11th Edition
1259290602, 1259290603, 978-1259290602
