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Given Qx=20-5p where price is 3 units find the price elasticity ​
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Given Qx=20-5p where price is 3 units find the price elasticity

​

User Rob Gibbens
by
5.4k points

1 Answer

2 votes

Answer:


Q_x=5

Step-by-step explanation:

Given that,

The formula is :


Q_x=20-5p ....(1)

Where p is price

We need to find the price elasticity

Put p = 3 units in equation (1)


Q_x=20-5(3)\\\\=20-15\\\\=5

Hence, the price elasticity is 5.

User DougN
by
5.0k points
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