The Inverse Demand Function for Grapes Is Described by the Equation

question 82

Multiple Choice

The inverse demand function for grapes is described by the equation p = 676 - 9q, where p is the price in dollars per crate and q is the number of crates of grapes demanded per week.When p = $28 per crate, what is the price elasticity of demand for grapes?

• A)-9/676
• B)-9/72
• C)-72/28
• D)-252/72
• E)-28/648

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