Suppose the Demand for Good X Is $$Q = 500 P ^ { - 1 }$$

question 26

Multiple Choice

Suppose the demand for good X is $$Q = 500 P ^ { - 1 }$$ . This demand curve has a ________ (constant, variable) elasticity of demand equal to ________.

• A) variable; -0.5
• B) constant;-0.2
• C) constant; -1
• D) variable;-2

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