Question #166112

- Suppose we have the following demand curve P=100-
*Q/2*calculate the elasticity of demand at point A(P=50) and B(P=80)

Expert's answer

The elasticity of demand is equal to:'

The demand equation is P=100-Q/2. Therefore:

At P=50, the quantity demanded is:

Therefore, the elasticity of demand is:

At P=80, the quantity demanded is:

Therefore, the price elasticity of demand is:

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