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Suppose the Weekly Demand Function for a Product Is

Question 84

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Suppose the weekly demand function for a product is Suppose the weekly demand function for a product is   where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1,000 and the quantity demanded is 714? Round your answer to two decimal places. ​ A)  η​ ≈ 14.80 B)  η​ ≈ 7.40 C)  η​ ≈ 16.80 D)  η​ ≈ 14.97 E)  η​ ≈ 124.15 where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1,000 and the quantity demanded is 714? Round your answer to two decimal places. ​


A) η​ ≈ 14.80
B) η​ ≈ 7.40
C) η​ ≈ 16.80
D) η​ ≈ 14.97
E) η​ ≈ 124.15

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