Question

    What is the elasticity of demand given that

    x=100-50p at price = 10?
    A 0.5 Correct Answer Incorrect Answer
    B -2 Correct Answer Incorrect Answer
    C 1.25 Correct Answer Incorrect Answer
    D 0.1 Correct Answer Incorrect Answer

    Solution

    demand function x=100-50p , price p = 10 x=100тИТ50(10)=100тИТ500=тИТ400 dx/dp= -50

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