Multiple Choice
A firm's demand curve is estimated to be Q = 400 - 5P, where Q is quantity and P is the price of the good. At P = $20, the point elasticity of demand is _____.
A) -0.25
B) -0.067
C) -0.33
D) -.67
E) -1.33
Correct Answer:
Verified
Correct Answer:
Verified
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