Question
The typical college student's individual demand for energy drinks is given by P = 4 - 0.02Q, where Q = cans consumed per month, and
The typical college student's individual demand for energy drinks is given by P = 4 - 0.02Q, where Q = cans consumed per month, and P = price per can, in dollars. At the current price of $2.00 per can, what is the own-price elasticity of demand?
A. -1
B. -0.02
C. -0.04
D. -2
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Microeconomics
Authors: David Besanko, Ronald Braeutigam
5th edition
1118572270, 978-1118799062, 1118799062, 978-1118572276
