Suppose that the inverse demand curve for a new laptop computer can be expressed as 
, where price is in dollars and quantity is in number of laptops.
a. What is the price elasticity of demand at a quantity of 625?
b. Is the demand for these laptops elastic or inelastic?
Definitions:
Setting Norms
The process of establishing acceptable behaviors and expectations within a group or society.
Facial Expressions
Facial expressions are configurations of the facial muscles that convey the emotional states of an individual to observers.
Hand Gestures
Movements of the hands and arms used to communicate ideas or intentions, often complementing verbal communication.
Imitate
To copy or mimic the actions, behavior, or appearance of someone or something.
Q14: May and Noon both like My Little
Q16: The supply of used high-quality motorcycles is
Q17: Yasmine has $40 weekly to spend on
Q29: If the government quit subsidizing a product,
Q59: Consumers value high-quality dirt bikes at $6,000
Q62: (Table: Good Categories) Tick off the appropriate
Q71: (Figure: Market for Rubber Balls) According to
Q80: List the four properties of utility functions,
Q106: The new Camaro SS has a 6.2-liter
Q138: Suppose there are 100 consumers in the