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Suppose Demand Is Given By Qd=1,00025PQ ^ { d } = 1,000 - 25 P

Question 12

Multiple Choice

Suppose demand is given by Qd=1,00025PQ ^ { d } = 1,000 - 25 P and supply is given by Qs=75PQ ^ { s } = 75 P . At the equilibrium price and quantity, the price elasticity of demand is


A) 3- 3
B) 25- 25
C) 1/3- 1 / 3
D) 10- 10

Correct Answer:

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