Suppose the Inverse Demand Curve for a Good Is Expressed

question 58

Multiple Choice

Suppose the inverse demand curve for a good is expressed as Q = 50 - 2p.If the good currently sells for $3,then the price elasticity of demand is

• A) -3 ∗ (2/50).
• B) -2 ∗ (50/3).
• C) -2 ∗ (3/44).
• D) -3 ∗ (44/2).

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