The Demand Function for a Manufacturer's Product Is Given by P

question 127

Multiple Choice

The demand function for a manufacturer's product is given by p = 500 - 5q - where p is the price per unit when q units are demanded.The point elasticity of demand when q = 5 is

• A) -0.5.
• B) -1.
• C) -1.5.
• D) -4.
• E) -6.

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