If the Inverse Demand Curve for a Good Is Given

question 112

Multiple Choice

If the inverse demand curve for a good is given by P = 100 - 4Q, the price elasticity of demand is elastic at a price of _____ and inelastic at a price of _____.

• A) $40; $60
• B) $60; $50
• C) $55; $35
• D) $35; $30