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:
Marginal Social Benefit
The supplementary advantage to society from the production or utilization of an additional unit of a product or service.
Pollution
The introduction of harmful substances or products into the environment, causing adverse effects on living beings and ecosystems.
Marginal Social Cost
The additional cost to society as a whole of producing one extra unit of a good or service.
Too Little
A situation where the quantity or amount available or supplied is insufficient to meet demand or requirements.
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