Suppose the Weekly Demand Function for a Product Is

question 84

Multiple Choice

Suppose the weekly demand function for a product is where p is the price in thousands of dollars and q is the number of units demanded. What is the elasticity of demand when the price is $1,000 and the quantity demanded is 714? Round your answer to two decimal places. ​

• A) η​ ≈ 14.80
• B) η​ ≈ 7.40
• C) η​ ≈ 16.80
• D) η​ ≈ 14.97
• E) η​ ≈ 124.15

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