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Suppose demand is given by q = 80 - 0.5p. what is the price elasticity of demand when p = 40?
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Suppose demand is given by q = 80 - 0.5p. what is the price elasticity of demand when p = 40?

User Mmindenhall
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I believe the answer to this question is: the price elasticity of demand is 60. q = 80 - 0.5(40) is the equation I used. Half of 40 is 20, and 80 minus 20 is 60.
User Lavrton
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