Answer to Question #166112 in Microeconomics for Sixtus george

Question #166112
  1. 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)
1
Expert's answer
2021-02-24T15:04:03-0500

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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