Market Demand Is Given as Q_D = 140 - 5P

question 340

Multiple Choice

Market demand is given as Q_D = 140 - 5P.Market supply is given as Q_S = 2P.If price increases from $21 to $23,what is the price elasticity of demand

• A)0.3
• B)1.0
• C)3.7
• D)9.4

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