Multiple Choice
Suppose the demand function for a product is given by where p is in hundreds of dollars and q is the number of tons. What is the elasticity of demand when the quantity demanded is 6 tons and the price is $303? Round your answer to one decimal place.
A) η ≈ 5.0
B) η ≈ 42.3
C) η ≈ 7.1
D) η ≈ 6.1
E) η ≈ 2.0
Correct Answer:

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Correct Answer:
Verified
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