Solved

For the Demand Function Q = p2p ^ { 2 }

Question 1

Multiple Choice

For the demand function q = p2p ^ { 2 } e(p+7) e ^ { - ( p + 7 ) } , find E(p) and determine if the demand is elastic or inelastic (or neither) at the price p = 5.


A) E(p) = 2 - p, inelastic
B) E(p) = p - 2, elastic
C) E(p) = p - 2, inelastic
D) E(p) = 2 - p, elastic

Correct Answer:

verifed

Verified

Related Questions