Using the Point Method the Price Elasticity of Demand for the Demand

question 39

Multiple Choice

Using the point method the price elasticity of demand for the demand curve P = 20 - 2Q, when P = 30 is

• A)3.
• B)12.
• C)0.33.
• D)0.08.

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Definitions:

Certainty

The state of being sure or confident about something, often referencing situations in decision-making where outcomes are known.

Uncertainty

The state of being unsure about the future or about the outcome of specific processes or events.

Predominantly

Predominantly means mainly or for the most part, indicating that something is the dominant, principal, or most common element in a mixture or series.

Logical

Pertaining to the formal principles of reasoning and correct thinking.