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Suppose the Demand Function for a Product Is Given by

Question 61

Multiple Choice

Suppose the demand function for a product is given by 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 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

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